business law 150
Beyond real and personal property is intellectual property. Intellectual property includes trademarks, copyrights, patents, trade secrets, and any other “intangible creation of the human mind, usually expressed or translated into a tangible form, that is assigned certain rights of property.” This may be anything from a new invention to a website, or recipe.
If you don’t know much about intellectual property, watch the Lynda video series: Intellectual Property Fundamentals
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- Determine what property is intellectual property.
- Create a list of intellectual property you foresee for your new business.
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Design a step by step plan of how you will protect the ownership of these intellectual properties, and protect your business rights to the intellectual property.
Submit to Moodle.
Activity 2: Plan ahead
Using book The Tools & Techniques of Estate Planning, draft a succession plan.
Review this website for more help: http://www.wikihow.com/Plan-Succession-for-a-Family-Business
