March 2018
A
t the heart of every
manufacturing success
story are processes, information
and products. Employers rely on
these core components and losing
their claim on these innovations can
result in lost revenue, a talent
exodus and even an “Out of
Business” sign.
Some manufacturers may not
see the critical need to protect
certain aspects of their intellectual
property until it is too late. Others
may determine it’s not worth the
time and money to protect their
IP. Both of these assumptions are
wrong and can result in costly
regrets down the road. The proper
protection of your intellectual
property represents the difference
between being an industry leader
and an industry afterthought.
“Most manufacturers either
know someone personally or have
heard stories of companies failing
to bounce back after the loss of
intellectual property,” said MMA
President & CEO Chuck Hadden.
“While today’s employer has
access to new technology and
new opportunities, manufacturers
also face security threats their
predecessors never had to imagine.”
According to the FBI, more
than $400 billion in intellectual
property is lost in the U.S. every
year simply through cyberattacks.
As a result, large corporations often
dedicate entire departments to
protecting intellectual property,
but Michigan’s thousands of
small-to-mid-sized manufacturers
are often forced to balance security
with countless other responsibili-
ties. If you overlook or improperly
identify existing assets, it can result
in the inadvertent — and costly
— use by third parties.
I
11
What is this thing called
“Intellectual Property”? Types of Intellectual Property
Intellectual property (or IP),
generally, refers to “creations of the
mind, such as inventions; literary
and artistic works; designs; and
symbols, names and images used in
commerce” and is protected through
the use of patents, trademarks and
copyright to ensure product creators
receive deserving recognition and/
or financial benefit, according to
the World Intellectual Property
Organization (WIPO). A patent is an exclusive right granted
for an invention. Generally speaking, a
patent provides the patent owner with
the right to decide how — or whether —
the invention can be used by others.
In exchange for this right, the patent
owner makes technical information
about the invention publicly available
in the published patent document.
“
Get More!
Learn more about intellectual property
protection and beyond at the 2018
MFG Forum in Novi on 5/9/18. See
page 16 for details and register online
today at mimfg.org .
MiMfg Magazine
Manufacturers should
begin [to create a correct
culture to protect IP] by
understanding your risk
profile, what IP is at risk,
what is the economic value
of the IP assets, what is
the probability of loss, and
how much of that economic
value loss are you willing
to tolerate.
”
— Jamal Farhat,
BorgWarner
“Whether it is product designs,
customer data, market intelligence,
patent and copyrights that are under
development, intellectual property
holds information and know-how
that is fundamental to the way a
company makes money or monetize
its IP,” said Jamal Farhat, vice
president and chief information
officer for BorgWarner. “IP can
determine the profitability and
longevity of a company. Safeguarding
the future income of the company
is an essential responsibility of any
executive and his/her duty toward
the company’s stake holders.”
Protecting Your Widget:
Why Time Matters Most
If you wake up tomorrow to
discover your trade secrets have
been stolen, your business can’t
afford to waste time — due
to their confidential nature,
Patents
Trademarks
A trademark is a sign capable of
distinguishing the goods or services
of one enterprise from those of other
enterprises. Trademarks date back
to ancient times when artisans used
to put their signature or “mark” on
their products.
Copyright
Copyright is a legal term used to
describe the rights that creators
have over their literary and artistic
works. Works covered by copyright
range from books, music, paintings,
sculpture and films, to computer
programs, databases, advertisements,
maps and technical drawings.
Industrial Designs
An industrial design constitutes the
ornamental or aesthetic aspect of an
article. A design may consist of three-
dimensional features, such as the
shape or surface of an article, or of
two-dimensional features, such as
patterns, lines or color.
Geographical Indications
Geographical indications and
appellations of origin are signs
used on goods that have a specific
geographical origin and possess
qualities, a reputation or characteristics
that are essentially attributable to
that place of origin. Most commonly,
a geographical indication includes
the name of the place of origin of
the goods.
This list may not represent all types of intellectual property.
Consult an attorney specializing in IP protections for a
greater list.
Source: World Intellectual Property
Organization (WIPO), www.wipo.int,
accessed 2/28/18.