Intellectual Property and Industry

Intellectual Property and Industry
BalSri
LAW/531
                                                    April 19, 2010
Tom

Introduction
      Information technology (IT) is "maybe the study, design, development, implementation, support or management of computer-based information systems, particularly software applications and computer hardware," according to the Information Technology Association of America (ITAA).   The term “technology” broadly includes innovations, inventions and writings and development of computer software and hardware.
Some of the characteristics intrinsic to a high-value and wide spread industry such as information technology include:
    • A massive upfront financial and intellectual investment to develop software and integrated circuit board, although those products may only have three- to four -year life span
    • Relentless advances and globalization for need of technology firms to produce software and systems that meet the ever-evolving desires and specifications of consumers and regulators
    • Constant innovation in process, branding, licensing and Internet in order for manufacturers to compete

        These characteristics bring to fore the ever changing input and output of both the tangible and Intellectual property, this paper highlights the tangible and intellectual property (IP) right in relation to Information Technology, and steps a manager needs to take to protect the IP related to the organization and that of others.

What are Tangible and Intellectual (Intangible) Property
        Companies declare their assets in the balance sheet, and they include Tangible and Intangible Assets (Intellectual property), and these are more valuable then their assets.
Tangible Property – physical: real and personal property (Jennings, 2006, P. 650). Some examples of Tangible property in an IT firm could be the common ones like office building, computers, desks, etc, but also not so common ones like integrated chips,... [continues]

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