Assignment 2
Submitted by
Mashahid Raza
Reg no
Fa21-BSE-071
Submitted to
Mam Yasmeen jana
Q NO 1: What is intellectual property? Give ten examples of
intellectual property
Ans: Intellectual property (IP) refers to creations of the mind, such as
inventions, literary and artistic works, designs, and symbols, protected by
patents, copyright, and trademarks to enable recognition or financial
benefit from these creations
1. Inventions protected by patents
2. Literary works safeguarded by copyright
3. Artistic creations covered by copyright
4. Designs secured by patents or industrial design rights
5. Symbols and logos protected by trademarks
6. Trade secrets like formulas or processes
7. Domain names and business names
8. Sound recordings and music compositions under copyright
9. Software programs safeguarded by copyright
10. Visual creations such as paintings, sculptures, and photographs
Q No 2 What is the difference between a trademark and a trade
secret?
Ans: The difference between a trademark and a trade secret lies in their
nature and purpose. A trademark is a symbol, design, phrase, or word that
identifies and distinguishes the source of goods or services, protecting the
brand identity of a business and preventing confusion in the marketplace.
Trademarks can be registered and offer exclusive rights to use the mark,
differentiating a business from competitors.
On the other hand, a trade secret is confidential information that provides a
competitive advantage to a business. It includes formulas, processes,
designs, or any other confidential information that sets a company’s
products apart from others.
Unlike trademarks, trade secrets are not registered with any government
agency and are protected as long as they remain confidential and offer a
competitive edge. Once a trade secret is no longer secret, it loses its value to
the business
Q NO 3 What are the relative advantages and disadvantages of
patents versus trade secrets?
Ans The relative advantages and disadvantages of patents versus trade
secrets are as follows:
Patents:
Advantages:
1. Patents protect functional designs and provide exclusive rights
for a set period, creating market limitations and allowing for
higher pricing
2. Patent owners can claim damages for willful infringement,
providing economic benefits in case of infringement
3. Patents offer enforceable legal rights, making them a strong form
of intellectual property protection
Disadvantages:
1. Patents are costly to acquire and maintain, involving
significant expenses for legal services and prosecution
2. The disclosure of patented information allows competitors to
invent around the patent, potentially reducing its
effectiveness.
3. Patents have a limited lifespan of 20 years, after which the
invention becomes public domain
Trade Secrets:
Advantages:
1. Trade secrets are inexpensive to secure and do not require
formal registration, offering immediate protection
2. Trade secrets can protect a wide range of information,
including abstract ideas and software designs, providing
extensive coverage
3. Trade secrets can provide indefinite protection as long as they
remain secret, offering a competitive edge over time
Disadvantages
1. Enforcing trade secret protection can be challenging, especially
in cases of improper acquisition or disclosure of information
2. Trade secrets can be difficult to protect in a world where
information sharing isprevalent, posing risks to confidentiality
3. Trade secrets may not offer the same level of legal enforceability
as patents, making them vulnerable in certain situations
Q No 4 When referring to copyrighted materials, what is meant by
the term “fair use”? Suppose your band has recorded a song and
posted it as an MP3 file on your Web site. How can you allow people
to download your music for noncommercial purposes while retaining
your copyright on the song?
Ans When referring to copyrighted materials, the term "fair use" refers to
the right of the public to make reasonable use of copyrighted material in
specific circumstances without the copyright owner's permission.
1. Fair use allows limited use of copyrighted material for purposes such as
criticism, comment, news reporting, teaching, scholarship, or research.
However, fair use is not a blanket permission and is determined on a
case-by-case basis by the court, considering factors like the purpose of
use, the nature of the copyrighted work, the amount used, and the
effect on the market value of the original work
2. To allow people to download your music for noncommercial purposes
while retaining your copyright on the song, you can consider using
Creative Commons licenses. These licenses give you the legal right to
specify how others can use your music
3. . By choosing a Creative Commons license, you can grant permission
for noncommercial use while retaining your copyright. Additionally, you
can clearly outline the terms of use on your website, specifying that
the music is available for noncommercial purposes only and that users
must attribute the music to you as the copyright owner
Q No 5 When describing a software license, what does the
phrase “open source” mean? How has Linux affected the market
for proprietary software?
Ans:Linux has significantly impacted the market for proprietary software
by providing a free alternative to proprietary operating systems like UNIX.
Developed by Linus Torvalds and released under the GNU General Public
License (GPL), Linux gained popularity as a robust and reliable operating
system. Its availability as open-source software challenged the dominance
of proprietary software, leading to increased demand for free alternatives
to UNIX.
When describing a software license, the phrase “open source” refers to
licenses that allow users to use, modify, and share software freely. Open-
source licenses facilitate the development of free and open-source
software (FOSS) by granting recipients the rights to examine the source
code, make modifications, and distribute those modifications.
