Intellectual Property Case Study

Real life examples Trademarks
There are two basic types of trademarks listed as follows:
1) Name: Coco Chanel is one example of trademarks given for names. The astonishing extraordinary French designer has created a successful brand using her own name CHANEL. She gained advantage over her competitors by using her name in order to distinguish her product from other competitors’ product. 2) Symbol: The McDonalds golden arch is a perfect example of trademarks which are given to symbols. Golden arches align on boards in highways in order to tell customers that there is a branch of McDonalds at the next exit without mentioning the name of McDonalds, because they do not need to mention the name.

These are some examples of trademarks.

The advantages and disadvantages of the intellectual property in general; the first advantage of intellectual property is that the legal fees is not existing, the second advantage is the freedom in developing or changing the idea, the third advantage is the potential to lead the competition because of being the first competitor or first seller, but still indeed the movement in some markets is so fast that the intellectual property or in other words the IP is not worth the wait. There are three disadvantages of the intellectual property in general; firstly, the usage of the idea which was developed by the person who own the IP can be by anyone, secondly, someone else could actually protect it, finally, there is no guarantee that the owner of the intellectual property will be rewarded. The first type of intellectual property is patents which have some advantages and disadvantages; the first advantage is the patent banns legally anyone other than the inventor from using the invention, the second advantage is that only the existence of the patent destroys the competitors, the third advantage is that the patent last twenty years which

As there are some advantages for patents there are also some disadvantages; first, in the process of establishing patent the applicant is required to donate both money and time, second, every new application for a patent has to be researched in order to find that there is no other patent that is no identical patent existing- in order to that search the applicant is required to pay fees, thirdly, it is not guaranteed that the patent is applicable because it can be legally revoked, fourthly, the patent holder is responsible to protect his/her invention against infringement, finally reserving a patent does not mean that the invention has a commercial value. The second type of intellectual property is the trademark which has one advantage and two disadvantages. The one and only advantage of trademarks is giving the mark owner the ability or green light to record his/her product by his/her name or under a company’s name; in order to prevent any other person to benefit from the good of the mark owner other than himself/herself. The disadvantages of the trademarks