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What To Know About Intellectual Property Law

Someone having their intellectual property stolen happens more often than one might believe. Typically, an intellectual property issue is associated with the music industry—lyrics or beats are often taken from other artists without their knowledge, which usually makes headlines. The scandal surrounding intellectual property issues makes it sensational in the media, but most people don’t understand what constitutes as an intellectual property issue and how a patent attorney solves the case.

What Is A Patent Lawyer?

Patent law pertains to a branch in law that deals with intellectual property law, such inventions or creations that have made a significant contribution. Traditionally, patents only protected scientific designs, such as circuit boards, car engines, heating coils, or zippers that were considered the top licenses of the day. However, as the technology revolution began, patent law became more convoluted in its laws—there was more access to information that could easily be used and claimed as their property. The use of the internet, in turn, caused patent law to become a bit more challenging to allude certain loopholes that came with public domain works. The law now defines an invention if it’s not a natural object or process, new, useful, and not obvious.

An intellectual property lawyer specializes in claims dealing with intellectual property issue, and rightfully declaring the wrongful party as guilty of theft. The job of an IP lawyer involves rules for securing and enforcing legal rights to inventions, designs, and even artwork. Patent protection is able to cover an extensive legal section, such as acquiring assets like personal property and real estate from being taken un-rightfully. The patent process assists clients in numerous ways, including establishing and protecting intellectual capital, transferring proprietary technology drafting licensing agreements, conducting IP asset due diligence, licensing inventions, and negotiating settlements.

How Arbitration Works

Arbitrations can be presented in many cases—disputes concerning employment discrimination, thief of intellectual property, partnership dissolution, and commercial disputes can all fall under the process of arbitration. Typically, in most arbitrations, the arbitrator sends the opposing party a notice of intent to arbitrate a dispute with an outlined basis for the primary concerns that will be discussed. There is a brief response period, followed by selecting the arbitrators, and finally the hearing. Although there are specific principles arbitration must follow, the process varies considerably—the circumstances usually will outline and specify the rules and regulations in the party’s arbitration. International arbitration is a process between two companies in different states, which disputes processes can vary considerably because of the complexity surrounding international disputes. However, all arbitration processes involve similar structural means as a traditional courtroom trial (I.e., mediation, mock trial hearings)—after required hearings are heard, a panel or single arbitrator deliver a ruling to the party, and the ruling may have an option to appeal depending on the arbitration.

a.The purpose of arbitration is to obtain a just resolution between disputes by an impartial third-party without nonessential expenses or delays.

b.Parties discussing how disputes are resolved and are subject to disagreement.

Why Arbitration Is Better Than Intellectual Property Litigation

Arbitrations and Litigations are similar to an extent. Ultimately, these similarities primarily depend on the individuals or companies involved. The most noticeable differences between arbitrations and litigations are the speed of process, formality, and selection process. Arbitration makes dealing with disputes much easier to find a solution to otherwise difficult cases without all the unnecessary formalities surrounding it. The cost and speed of arbitration make them far more idea for companies as well. Litigations are extremely expensive to both parties—compared to traditional litigations, arbitration cost is limited to the fees for an arbitrator and attorney fees.

a.Freedom in Decision: Parties can choose a technical person to be an arbitrator if the dispute is technical.

b.Efficiency: Arbitrations typically take half the time of court proceedings, and preparation is less demanding.

c.Cost: One or both parties pay for an arbitrator’s services, while the court provides an adjudicator at no additional price.

d.Privacy: The information shared in arbitration is confidential, and not intended for media or the outside public.

e.Flexibility: The process can be streamlined, segmented, or simplified depending on the circumstances.

f.Convenience: Hearing times are scheduled to fit each party’s schedule.

g. Certitude: In most cases, there’s no right of appeal in arbitration.

Idaho Legal News

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