A mark is any word, name, symbol, or design that identifies a product or service. A trademark identifies a product (for example, Coca-Cola). A service mark identifies a service (for example, Holiday Inn). One can be an owner of a trademark or service mark, whether or not it is registered. This is common law protection. Registration is proof of ownership and makes ownership rights easier to enforce. The basic question in lawsuits over marks is whether or not the general public is likely to be confused as to the origin of the service or product.
A copyright is the exclusive right given by federal statute to the creator of a literary or an artistic work to use, reproduce, and display the work. The creator of the work has a limited monopoly on the work and can, with some exceptions, prohibit others from copying or displaying the work. Copyright law protects such works as writing, music, artwork, and computer programs. A copyright gives one the exclusive right to use or reproduce a literary, artistic, dramatic, audiovisual or musical work, or a computer program for the creator's life plus 50 years. A copyright is obtained simply by creating the work. It comes into existence automatically on the dated it is created.
Trade names are names associated with a business and its reputation. Business names are not by themselves a trademark. The name that a business uses to identify itself is called a "trade name."
Intellectual property is a property right that can be protected under federal and state law, including copyrightable works, ideas, discoveries, and inventions. The term intellectual property relates to intangible property such as patents, trademarks, copyrights, and trade secrets.
A nonexclusive license is, in effect, an agreement by the licensor not to sue the licensee for infringement of the intellectual property rights being transferred. Such nonexclusive license is also normally not transferable by assignment to any other party by the licensee and, unless otherwise expressly provided for in the agreement.
Title: Understanding the Wisconsin Assignment of Intellectual Property and License Agreement Regarding Prior Business Introduction: In Wisconsin, the Assignment of Intellectual Property and License Agreement Regarding Prior Business is a legal contract that governs the transfer of intellectual property (IP) rights and licenses from one party to another. This detailed description explores the key aspects of this agreement and highlights different types of Wisconsin Assignment of Intellectual Property and License Agreement Regarding Prior Business. 1. Definition of Intellectual Property: Intellectual Property refers to intangible assets resulting from human creativity, including inventions, patents, trademarks, copyrights, trade secrets, and know-how. These assets are protected by law and often contribute significantly to the value of a business. 2. Purpose and Importance of the Agreement: The Wisconsin Assignment of Intellectual Property and License Agreement Regarding Prior Business is designed to clarify ownership rights and obligations of parties involved in businesses where IP assets are prevalent. This agreement ensures the smooth transfer, licensing, or assignment of these valuable assets. 3. Key Provisions of the Agreement: a. Assignment of Intellectual Property: This section outlines the conditions under which the intellectual property rights owned by one party will be transferred ("assigned") to another party. It specifies the scope of the assignment, any limitations, and the effective date of the assignment. b. Licenses and Restrictions: This clause allows the party receiving the intellectual property rights to utilize them through specified licenses and imposes any necessary restrictions on their use, including geographic limitations and time restrictions. c. Representations and Warranties: This section includes statements and assurances by both parties regarding their authority to grant rights, non-infringement, and the accuracy of the information provided. d. Indemnification: Parties often include indemnification provisions to protect themselves against liability for claims arising from the use or misuse of the assigned intellectual property. e. Governing Law and Jurisdiction: Identifies the governing law of the agreement and determines the jurisdiction where disputes will be resolved. 4. Types of Wisconsin Assignment of Intellectual Property and License Agreement: a. Full Assignment: In this type of agreement, the assigning party transfers all ownership rights, title, and interest in the intellectual property to the receiving party. b. Partial Assignment: Here, the assigning party transfers only specific rights or a limited portion of the intellectual property to the receiving party, while retaining some rights for themselves. c. Exclusive License: This agreement grants the receiving party the exclusive right to use and exploit the assigned intellectual property, even though the assigning party retains ownership. d. Non-Exclusive License: In contrast to an exclusive license, a non-exclusive license grants the receiving party the right to use the assigned intellectual property but allows the assigning party to grant similar rights to other parties. Conclusion: The Wisconsin Assignment of Intellectual Property and License Agreement Regarding Prior Business is a vital legal instrument facilitating the transfer, licensing, or assignment of IP rights as they pertain to businesses. Understanding the different types of agreements ensures parties can effectively protect their intellectual property assets and maintain a clear and successful business relationship.
