What role does IP play for company’s new products And, how does that affect the owner in terms of competition

Hi this is one of my business 1 class assignments. I want you to follow these questions and follow my professor instructions

Intellectual Property

Step 1: Watch the videos in the Intellectual Property module. Each video is 2-6 minutes in length. You don’t have to watch them all. Watch at least two in each topic. And, watch additional videos in the areas that apply to your business in the situation described below.

Step 2: Respond to the situation described below. I anticipate that your submission will be no more than a single page.

You are an entrepreneur and just started a new business. Use your imagination. Make it up. Maybe it’s something you have been thinking about as a possible career path or business proposition. YOU CANNOT pick a proposal that has no IP considerations.

Please propose a plan for protecting your intellectual property. In your plan, be sure to identify the different types of intellectual property that you are concerned about protecting and what steps you would take for each. Additionally, please consider your competition. What concerns do you have regarding infringing the intellectual property of others?

This can be submitted in outline form. There is no right or wrong answer.

Outline Form (Copy and paste and answer the questions.)

1. What is your product or service? Give a brief description.

2. What are its attributes? For example, does it have a brand name or maybe a particular design.

3. Do the following IP components apply to your product? And, how do they apply?

a. Patents

b. Copyrights

c. Trademarks

d. Trade Secrets

4. What about your competition? What role does IP play for them? And, how does that affect you?

5. Do you have any other Intellectual Property observations?

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