Why Does E-Business Need Intellectual Property

Article Review Paper

Juel Todman,

LAW/421

October 19, 2015

Why Does E-Business need IP (Intellectual Property) Paper

As technology advances the technological advancement in recent years has transformed the business community in the way they communicate and conduct business. The main technological advancement method that has change the way businesses communicate, and conduct business is the surge of business transactions on the internet. The internet is one of many or main venues that businesses and organizations use to communicate and conduct business transactions and this are done with just a click of a mouse. This means that the security of the intellectual property is also at risks, and it is essential that steps should be taken to prevent such risks. This paper will assess the different types of and legal protections for intellectual property; analyze the legal issues of e-business to include intellectual property, privacy, ethics, and security.

Intellectual Property Protection

With the explosion of the internet competitors are more tech savvy than ever before; that is why it is imperative for business owners and organizations when conducting business transaction in form of e-business to protect their intellectual property (trademarks, patents, and copyrights), at all costs to remain competitive in this global economy. By protecting their intellectual property, businesses and organizations must remain vigilant by not violating other business intellectual property as well. It is also critical and essential to protect intellectual property by e-business, because the exposure to competitors and others who might misuse or misappropriate it is astronomical. (Frommer, Colletti, & Lieb, n.d).

Legal Protection for Intellectual Property

The different types of and legal protection for intellectual property are: trademarks, patents, copyright, service marks and trade secrets (just to name a few). Intellectual property consists of patents, design, copyright, trademarks, names of business (business names), and consumer information etc., basically that can be protected. The intellectual properties that this article addressed are trademarks and patents. According to Frommer, Colletti, and Lieb (n.d)” A trademark is any visual word, name, symbol, or device used by a person to identify and distinguish his goods and services. A strong trademark is immediately identifiable and associated by the consuming public with a particular product or service. In other words, trademarks are words, identifying symbols and or expression that is legally protected and belongs to a particular brand, company, business or person that is connected with that brand. Patents are monopolies, granted by governments, which allow an inventor to exclude others from using his particular discovery or invention for a specific period of time. In the United States, patents are granted by the Patent and Trademark Office following an examination process where a patent examiner determines that an invention is new, useful and not obvious in view of what has already been publicly disclosed”. Frommer, Colletti, and Lieb (n.d)

Legal Issues Analyze

This article talks about cyber-squatters; as a legal issue of e-business as it relates to intellectual property cyber-squatters would register the names of well -known company or brands (trademarks) as internet domains in hopes of selling them to whoever bids the highest in hopes of making a profit. As a result of this illegal activity (blackmail), the trademark owners would buy back those internet domains in hope of saving their business reputation. This issue is so critical to intellectual property, because once someone such as  cyber-squatters gets control of your domain  they practically is in control of your business transactions and this can be very devastating for any business. This became such a legal issue that the United States Congress reacted to this practice by enacting the Anti-Cybersquatting Consumer Protection Act (ACCPA). As a result of this Act, a trademark owner has a legal claim against a domain-name registrant who registers the trademark as part of a domain name, where the domain name registration is done in bad faith and the intent of the registrant is to profit from that registration. Frommer, Colletti, and Lieb (n.d).  Furthermore, as related to intellectual property; it is essential an critical that intellectual property laws must be followed and adhere to. The legal issue of e-business as it relates to privacy; companies should and always make it paramount and with urgency protect consumer information at all costs, in the wrong hands it can be very devastating. The legal issue of ethics and security (these can be combined); having limited security on consumer information, and allowing cyber criminals and someone without a security clearance to access personal information such as social security numbers, birthday and most importantly financial information. (Frommer, Colletti, & Lieb, n.d).