In the final scene of Raiders of the Lost Ark, a worker wheels perhaps the greatest archaeological find in human history into an enormous government warehouse, where it is stashed among thousands of other crates, perhaps never to be seen again. Unlike the Ark, trade secrets that businesses are seeking to protect can’t just be hidden away in a vault.
Reflecting on his 27 years at Amazon from what he terms “Day 1” to his upcoming retirement as its CEO, Jeff Bezos recently sent a Letter to Shareholders recapping the 2020 year for Amazon. Although he discussed a number of thoughts, his principal point about why Amazon is so big and so popular rang through clearly.
Trade secrets are often the catch-all category of intellectual property (IP) protection. Patents cover inventions, copyrights protect creative works of expression, trademarks focus on branding and trade secrets… well, they cover the rest.
Software patents are a waste of time and money. Or are they? A well-quoted statistic states that 97% of all patents will fail to recoup their filing cost. It’s also been said that half of all businesses will fail within the first 5 years, and only one third will see their 10th anniversary. However, there are an estimated 100 million new tech startups each year.
The following is a brief summary of the most important issues involved with protecting your copyrights when dealing with the government – specifically the Department of Defense (DoD) – either as a prime or subcontractor.
IP is for tech companies. Every company possesses Intellectual Property. A misconception exists that IP is only for tech companies such as Apple or Intel and IP is only about patents. Not true. 100% of companies possess IP. IP is not just about patents but also includes protecting a company’s brand, is creative work and trade secrets.