1. AIM: Explain how to protect intellectual property. Do Now: What is the difference between and corporation and limited liability.

6. The Steps to a Patent Establish the invention’s novelty Document the device Search existing patents Submit the patent application Prosecute the patent application Study search results

10. Protecting Your Ideas Source: Anne Field, “How to Knock Out Knock Offs,” Business Week , March 14, 2005. $5,000 - $20,000 2 – 5 years A business process Business method patent $5,000 - $20,000 2 – 5 years How an original product works Utility patent $5,000 - $20,000 Up to 2 years Look of an original product Design patent $900 - $1,500 6 – 12 months Logos, names, phrases Trademark About $30 About 2 weeks Works of original authorship Copyright Cost Time Required What It Covers Type of Protection