INTELLECTUAL PROPERTY: AN OPEN CHEQUE

Intellectual property (IP) is man’s most prized possession after life.  a blank cheque. It is something that has always sparked a thought provoking question “How much is the mind worth?”. From patents and trademarks to copyrights, IP is a means to turn mere ideas into money or equity. This article delves into the relationship between man and his brain-child.

IBM & MICROSOFT

In the 1980s, IBM aimed to lead the personal computer market and made a key decision to license its operating system from Microsoft, a small company founded by Bill Gates and Paul Allen. Instead of keeping the software proprietary, IBM allowed Microsoft to license it to other companies, which led to the creation of the Windows operating system. This move helped Microsoft grow into a tech giant by leveraging its intellectual property through licensing, turning it into a multi-billion-dollar company.

GRAHAM v GRAY

The controversy between Alexander Graham Bell and Elisha Gray centered around their competing patent claims for the Invention of the telephone

• The patent race

On February 14, 1876, both Bell and Gray submitted patent applications for a device to transmit the human voice over a wire to the U.S. Patent Office. Bell's application was the fifth entry of the day, while Gray's was the 39th. The patent office ruled that Bell's application arrived first and issued the patent to him on March 7, 1876

• Gray’s Lawsuit 

Gray sued, claiming Graham had stolen his Idea, But Gray lost at the U.S. Supreme Court 

APPLE v SAMSUNG : THE PATENT BATTLE

In more recent history, the Apple v. Samsung case (2011–2018) became one of the most high-profile cases of IP’s ability to fuel immense profits through litigation. 

Apple sued Samsung for patent and trademark infringement, claiming that Samsung's devices copied Apple's iPhone features. Apple trademarked the presentation of its smartphone icons, including their shape, arrangement, and spacing. The jury found Samsung liable for infringement, and awarded Apple over $1 billion in damages. The court upheld the jury's findings, but Samsung appealed. 

In 2018, Apple and Samsung settled their remaining claims and counterclaims. Samsung agreed to pay Apple $539 million.

IP & THE FASHION INDUSTRY:

Intellectual Property plays a pivotal role in the highly competitive fashion industry 

The world garment market, in terms of value, currently stands at USD1.5 trillion and is projected to grow to about USD2.25 trillion by 2025. 

In the midst of breakneck advances in information and communication technologies (ICTs), supply-chain logistics, social media and an evolving buyer culture, IP rights and their protection are likely to become ever more central to the fashion industry

The Pudong New Area People’s Court sitting in Shangai, China, In the case of New Balance v New Barlun awarded the sum of USD1.5 million in favor of New Balance, the Court held that the “N” logo which appears on New Barlun’s shoes (that is like the “N” of the New Balance brand) amounted to “unfair competition”  and could confuse consumers.

THE FORTUNE OF LOGOS : 

A logo is a visual representation of a brand, company, or organization. It can be a symbol, a word, or a combination of both. A logo is more than just a graphic design, It is also an intellectual property that can have legal and economic value. 

As simple or complex as companies& organizations logos may look, they are worth an arm and a leg, from a simple creative direction to a software to PNG files, some renowned brands have spent a fortune on their logos. 

In 2008 Pepsi’s logo redesign by The Arnell Group (led by Peter Arnell) cost $1 million

2010, Symantec redesign by Mogollon cost $1.28 million

In 1997 BBC’s redesign by Lambie-Nairn cost $1.8 million 

In 2000, Accenture Logo by Landor Associates was worth $100 million

In 2018 , Uber’s logo by Interbrand was estimated at $100 million for the total rebrand, including digital experience and logo

E! Entertainment’s logo in 2002 by Design Studio (aka MetaDesign) was worth $150,000

Airbnb rebranded logo in 2014 by London-based design firm, London Studio cost $1,000,000 

The aforementioned are pointers to the price tag a man’s creative substance is worth.

Brands/Companies spend so much on logos because of the significant impact,reputation,recognition and revenue a Logo can have.

The instance where two brand Logos have even the slightest resemblance can constitute a civil right violation of Passing Off, which the defendant can raise as an issue in a court of competent jurisdiction.

In the case of New Balance v New Berlun, The Pudong New Area People’s Court Shangai, China, awarded the sum of USD1.5 million in favor of New Balance.

CONCLUSION : INTELLECTUAL PROPERTY; A KEY TO UNLOCKING VALUE

Whether it’s Bill Gates turning software patents into billions, Alexander Graham Bell securing exclusive rights to the telephone, or Disney building an empire on its copyrights, intellectual property is an important asset capable of generating wealth. The law surrounding IP whether through patents, copyrights, trademarks, creates a framework for protecting innovation and ensuring that creators, companies, and individuals can reap the financial rewards of their ideas.

In an ever evolving world , the potential for IP to function as an open cheque remains unchanging. Properly valuing, protecting, and leveraging intellectual property is not optional, it’s a conditio-sine-qua-non for anyone looking to turn their innovative ideas into financial success.