Mini Case 3-1: Protecting Your Intellectual Property

question 85

Essay

Mini Case 3-1: Protecting Your Intellectual Property
Devo, Anthony, and Spencer were childhood friends who had always talked about starting a business together after college graduation. Devo had the financial background and startup capital to contribute and Spencer and Anthony had the technical knowledge they believed would give them the competitive advantage needed to become an industry leader.
During their early college years, Anthony and Spencer developed a new and innovative way to manufacture computer components. When they shared their idea with Devo, he was able to draw up a detailed business plan to present to potential investors when the three were ready to launch their venture. They had been very careful not to disclose anything about their innovative idea to other colleagues or any of their friends and were anxious to get started.
After selecting the company name "Millennium Computers" the three friends come to you for advice on intellectual property rights.
-To protect their innovative process for manufacturing computer components from unauthorized use, which type of intellectual property should the three friends apply for? Identify the office to which they should apply and outline the steps involved in the process.

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Definitions:

Psychological Influences

Psychological influences are factors related to individual mental processes and characteristics that affect their purchasing behavior and decision-making.

Situational Influences

External factors that affect consumer behavior at the time of purchase, such as physical environment, social surroundings, and time.

Selective Retention

The process by which individuals remember only information that reinforces their personal beliefs and attitudes, ignoring contradictory evidence.

Postpurchase Stage

The phase after purchasing a product or service where consumers may evaluate their decision, experience satisfaction or dissatisfaction, and engage in behavior such as feedback or repurchase.