(Solved Homework): You now understand the importance of Intellectual Property Laws and how they…

You now understand the importance of Intellectual Property Laws and how they protect businesses from competitors stealing their ideas, creations, and inventions.

Share any trade secrets, copyrights, or patents that you anticipate for your business. How will you go about protecting those ideas? What are the typical costs associated with obtaining a patent? What are some of the issues related to intellectual property in a global environment?

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We have a bakery business and deal in a specialised bread which is our family formula coming back from our ancestors. As we are shifting towards a bigger platform to produce the bread in a margin, we have to patent our process of making the bread as well as ingredients we use. It has a secret recipe which has to be patented.
Firstly we will conduct a patent search for the food compositions that are already existing in the patent database. After that we will access the patent electronic Business Center at the PTO website and later fill out the application form buy feeling the fee. Then later we will submit the application to PTO.
Cost of acquiring a patent we vary from $5,000 to $15,000.
In the Global platform patenting different ideas can be very tough as there are so many other patents available which are very similar to your present in many means which makes it harder to find a specific patent for your recipe or the product you want to patent. The following the correct information and having information about the Global standing of your patent can help you a lot in creating a patent for your specific recipe.

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