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HVBF Monthly Meeting - Information Systems
Roundtable Host: Loyola College in Maryland Attending: Drew Bonthron, Baltimore Gas & Electric Company Chairperson Dana Wiedefeld asked each person attending to introduce themselves and their company. Dana then introduced our discussion leader, Greg Stone of member Whiteford Taylor & Preston. Greg is an attorney with Whiteford, Taylor & Preston specializing in intellectual property and patent law as related to IT. Greg discussed the four main types of IP. IP is legal protection covering intangible assets such as trade secrets, copyrights, trademarks and patents. IP is both a sword and a shield protecting valuable hidden assets but is a potential landmine for the unwary. Trade secrets were defined with the caution to maintain an accurate paper trail of the development process. Trade secrets unlike patents and copyrights are perpetual. However, once the information is revealed the secret is gone. Copyright protects the expression of an idea but not the idea itself. Copyrights must be registered for maximum protection. A trademark is a word, phrase or symbol. Trademark protection protects the name, not the product. Brand, not content, is protected. Use and adoption of a trademark constitutes protection, not registration. However, registration is desirable. With trademarks, its use them or lose them. Patents are an exclusive monopoly for a determined period of time. There are three types of patents; utility, design and plant. Greg cautions that careful research should be done before beginning your costly R & D to be sure that what you seek to protect has not already been preempted. Balance the cost of IP risks of proceeding without protection. Greg can be contacted at Whiteford, Taylor & Preston at
gstone@wtplaw.com |