Intellectual Property Law in the U S

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Intellectual Property Law in the United s Intellectual Property Law in the United s Intellectual property is defined as an intangible form of property which results from the creation of the brain. The intellectual property law is a section of the jurisdiction of a country which deals with the copyrights, trademarks, intellectual property patents and secret trade regulations (Landes amp. Posner, 2003). The statute and the common law of a country play a significant role in the intellectual property law. This paper will discuss some of the legal issues that Jossup Enterprises might encounter and how they can be possibly addressed to avoid legal issues. According to the case scenario, Jossup Enterprises created a unique security protection program, which is programmed to check the integrity of downloaded files in a designated system. This company also plans to license the security program to its clients at a fee on a regular basis to each user. Therefore, in order for the company to avoid some of the common legal issues associated with intellectual property law, they should construct licensing contracts. These licensing contracts will substantially help the company in generating greater innovations. The licensing of contracts will also lead to increased profits, which are some of the terms contained in the contract agreement (Landes amp. Posner, 2003). The cost of production is also reduced significantly but, the cost in terms of contract negotiations is still a discouraging limitation. In conclusion, the United States has an association known as the Intellectual Property Law Corporation of America, which has its headquarters in Virginia. This association deals with the intellectual property law in the United States. Patents, trademark regulations and trade secrets are can also be utilized by Jossup Enterprises due to the commercial value of their security protection program (Landes amp. Posner, 2003). ReferenceLandes, W., amp. Posner, R. (2003). The economic structure of intellectual property law. New York: Belknap Press.