Opportunity Journal 3: Legal Issues and Intellectual Property

This assignment solution addresses key legal and intellectual property considerations for a new business venture, specifically an "Itech production studio." The student explores the advantages of forming a partnership, and identifies critical steps to avoid IP infringement, including thorough research and expert consultation. The assignment highlights the importance of patenting the filmmaking process and registering trademarks for film and audio content to protect against infringement and facilitate licensing, business sales, and securing loans. Furthermore, it emphasizes the need for international IP protection for global commercial purposes, underscoring the comprehensive approach required to safeguard intellectual assets in a competitive market. The solution references relevant academic sources to support the arguments.

Student ID: Student Name:
1
Opportunity Journal 3_Semester 2 2018
Legal Issues
Intellectual property & Intellectual asset Management
Answers
1.
The name for my business can be Itech production studio. The best business legal form of this
business would form a partnership. The advantaged of this legal form are:
 It will be easier to raise capital when needed
 In case of losses, the burden will be shared among the partners (Bygrave & Zacharokis,
2014)
2. To ensure that this new business does not infringe someone else intellectual property, I will
consider the following issues :
 Planning and preparing: it will be of great importance for me beginning and issue
concerned with product promotion, content promotion as well as promoting other
materials belonging to my business, I consider taking time and conduct thorough
research on related patent and copyrights to ensure my idea is not already protected by
another person with a different IP copyright.
 Always read the fine print: before entering into contracts related to my business, it
safe to always read all the partners’ terms and condition for licencing and contracts any
content and save some copies for future claims in case of infringement.
 Consult experts where necessary: it will be of great importance to always consult
experts like lawyers on areas relating to intellectual property infringement. This will
help me whenever claims are made on alleged infringement by for instance, by my
competitors. (Uzialko, 2018)
3. For my production business, I can patent the filmmaking process. Most importantly the event
from script writing to the point of the film been shown on the screen. Patenting this process
will prevent infringement of the inventions that my business employs to produce these audio
files and films. It’s good to register for the trademark since in case of IP infringement; it will
be easy to enquire and protect the invention through proceedings (Summerfield, 2018)
4. It’s very important to secure my business trademark through the application of trademark
protection policy. One of the most important areas within my production studio that need have

Student ID: Student Name:
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trademark protection is the film and audio that have been produced and made within the
studio. Any audio file or film should be bearing a trademark as well a logo before being
released to the public or social media. The following are the benefits of trademark registration:
 For licencing purpose since a registered trademark can be licenced and this will be
room for legal proceeding in case an infringement case emerge from competitors
 With a registered trademark, it will be easy to sell the business since a registered
trademark is transferrable
 A tool to block competition from imported counterfeit services and goods similar to
my studio goods
 It will act as security to secure loans through pledging
5.
International IP protection
Since my business is not limited to only customers within my country, it would be of great
importance to seek for international IP protection for the international commercial purpose. It’s,
however, more important have an idea of countries which countries cover and address this.
(Jewell, 2017)
References
Bygrave, W., & Zacharokis, A. (2014). Entrepreneurship. John Wiley.

Student ID: Student Name:
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Jewell, C. (2017). From Script to Screen: What Role for Intellectual Property? World
property journal, 1-17.
Summerfield, M. (2018). Intellectual property and intellectual asset management. Mcgraw.
Uzialko, A. C. (2018). Copyright Infringement: Are You Stealing Intellectual Property.
Business news journal, 2-9.