A Legal Guide To TECHNOLOGY TRANSACTIONS A COVID-19 Update…

INTRODUCTION

This booklet has been prepared to familiarize the inventor, creator, or developer of a new idea with the basic legal framework that is available to protect that idea. More importantly, this booklet is designed to help the inventor decide which, if any type of protection is available for a particular idea, and whether such protection is worth obtaining. Protecting a new idea is often a difficult process. Some ideas and inventions simply cannot be protected, while others are eligible for only narrow or partial immunity from potential competition and imitation. Obtaining even minimal protection can often be expensive and time-consuming, and the ultimate result may be uncertain or even disadvantageous to the inventor. The decision to seek protection for a new idea should be approached with the same caution and skepticism you would bring to any other commercial transaction, such as taking out a loan or starting a new business. Just because a new idea may be eligible for some form of legal protection does not mean that the cost of obtaining and preserving such protection is justified from a business viewpoint. Although the final decision on protecting your idea can best be made by consulting a qualified attorney, you will be able to better select and communicate with an attorney if you already have some knowledge of the various types of intellectual property protection that are available. Even if you have yet to develop a new invention or concept, a general knowledge of intellectual property law can be

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