Business Law 13th Edition by Frank Cross, Kenneth Clarkson, Roger LeRoy Miller

Exercise 11

Patents. After years of research, your company develops a product that might revolutionize the green (environmentally conscious) building industry. The product is made from relatively inexpensive and widely available materials combined in a unique way that can substantially lower the heating and cooling costs of residential and commercial buildings. The company has registered the trademark it intends to use on the product, and has filed a patent application with the U.S. Patent and Trademark Office. (See page 161.)
(a) One group should provide three reasons why this product does or does not qualify for patent protection.
(b) Another group should develop a four-step procedure for how your company can best protect its intellectual property rights (trademark, trade secret, and patent) and prevent domestic and foreign competitors from producing counterfeit goods or cheap knockoffs.
(c) Another group should list and explain three ways your company can utilize licensing.