Generating and Protecting
Business Ideas
Program Support Notes by:
Ally Chumley B.Ed (Hons)
Executive Producer:
Simon Garner B.Ed, Dip
Management
Reproducing these support notes
You may download and print one copy of
these support notes from our website for your
reference. Further copying or printing must be
reported to CAL as per the Copyright Act
1968.
© Video Education Australasia Pty Ltd 2011
Generating and Protecting Business Ideas
For Teachers
Introduction
Generating and protecting business ideas presents a good overview of the laws governing intellectual
property, patents, copyright and trademarks. Students will develop a working knowledge of their rights
and responsibilities as young entrepreneurs in protecting their own innovations and respecting the
creative works generated by others. The program also provides some interesting case studies
involving successful business ideas that have become household names, due to the persistence and
determination of their inventors. Young entrepreneurs will benefit from the guidance offered in the
program for protecting and developing their own inventions – helping to ensure the success of their
future businesses.
Timeline
00:00:00
00:00:23
00:07:52
00:10:58
00:15:43
00:20:24
Introduction
Sources of business ideas
Copyright
Patents
Trademarks
End program
Recommended Resources
http://www.entrepreneur.com/inventing/protectingyouridea/archive116292.html
http://www.ipaustralia.gov.au/ip/patents.shtml
Shaffer, J. N. Protect your great ideas for free!: free steps for protecting the valuable ideas
generated by every business owner, entrepreneur, inventor, author and artist Maximum Press,
2006.
McKnight, T. Will it fly? How to know if your new business idea has wings-- before you take the
leap, FT Press, 2004.
Hougaard, S. The business idea: the early stages of entrepreneurship, Springer, 2005.
2
© Video Education Australasia Pty Ltd 2011
Reproducing these support notes
You may download and print one copy of these support notes from our website for your reference.
Further copying or printing must be reported to CAL as per the Copyright Act 1968.
Generating and Protecting Business Ideas
Student Worksheet
Initiate Prior Learning
1. Imagine you are an entrepreneur with a great new idea for a business. What steps would you take
to ensure that your business idea is protected?
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
2. How well do you imagine your business idea would be protected by the law in this country?
Summarize your predictions or existing knowledge here.
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
3. What action could you take against a person or company that attempted to steal your idea?
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
3
© Video Education Australasia Pty Ltd 2011
Reproducing these support notes
You may download and print one copy of these support notes from our website for your reference.
Further copying or printing must be reported to CAL as per the Copyright Act 1968.
Generating and Protecting Business Ideas
Active Viewing Guide
1. What is a “niche market”?
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
2. According to the founder of Free Serve, what is the first thing to do when you’ve thought of a good
business idea?
_________________________________________________________________________________
3. Once you have developed your idea for a new product, the next step is to come up with what?
_________________________________________________________________________________
4. Fill in the missing word:
Entrepreneurs are advised to invest a lot of _____________________ in further refining the idea
until they are happy with the final product.
5. James Dyson, the inventor of the cyclonic vacuum cleaner, spent how many years conducting
scientific research to develop the machine?
Circle one: 1
2
3
4
5
6
7
8
9
10
6. Dyson manufactured over how many prototypes before he got his design right and was ready to
release the Dyson into the marketplace?
Circle one: 1
10
15
50
100
500
5000+
7. How successful was the Dyson machine?
_________________________________________________________________________________
_________________________________________________________________________________
8. What British television program did Philip Taylor compete on before going on to become an
entrepreneur?
_________________________________________________________________________________
4
© Video Education Australasia Pty Ltd 2011
Reproducing these support notes
You may download and print one copy of these support notes from our website for your reference.
Further copying or printing must be reported to CAL as per the Copyright Act 1968.
Generating and Protecting Business Ideas
9. List three sources from which a business idea may come:
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
10. What is the branch of law applied in the legal protection of ideas?
_________________________________________________________________________________
11. List three ways in which people can protect their intellectual property:
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
12. Circle true or false for the following statements:
a) Copyright exists as soon as you have created an original piece of work.
True
or
False
b) Copyright on written compositions and software remains in effect for 100 years.
True
or
False
c) Copyright on sound recordings remains in effect for 50 years.
True
or
False
13. Which term is used to describe how a new invention is protected under law?
_________________________________________________________________________________
14. What three stipulations are made for patents to be issued for an invention?
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
5
© Video Education Australasia Pty Ltd 2011
Reproducing these support notes
You may download and print one copy of these support notes from our website for your reference.
Further copying or printing must be reported to CAL as per the Copyright Act 1968.
Generating and Protecting Business Ideas
15. Suggest three reasons why protecting your invention may not be the best solution.
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
16. What is the term used for the protection of a company image?
_________________________________________________________________________________
17. What forms can a trademark take?
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
18. What is the sign used to identify that your trademark is registered? Describe and draw your
response.
_________________________________________________________________________________
19. What do the letters TM mean in terms of the registration of a trademark?
_________________________________________________________________________________
_________________________________________________________________________________
6
© Video Education Australasia Pty Ltd 2011
Reproducing these support notes
You may download and print one copy of these support notes from our website for your reference.
Further copying or printing must be reported to CAL as per the Copyright Act 1968.
Generating and Protecting Business Ideas
Extension Activities
1. Philip Taylor responded to the public interest in an idea he had on The Apprentice. He is now
using that idea to create fashionable underwear from environmentally friendly, organically grown
cotton. He decided to make sure that before he spent a lot of his investors’ money on stock, he
would get at least twenty pairs of underwear designed for showing to potential clients.
Discuss the groups' opinion of this strategy.
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
2. The inventors of the Fillpot made enquiries to find out if there were any other businesses
developing the same idea. Why is it in their best interest to be the only developers of this idea?
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
3. James Dyson took out many patents along the developmental road while creating his vacuum
machine. When Hoover claimed to have a similar invention, Dyson took them to court for breach
of patent law. He won because he could prove that his invention had been patented several times
during the development of Hoover’s invention.
Discuss your own ideas about the justice or injustice of this situation.
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
_________________________________________________________________________________
7
© Video Education Australasia Pty Ltd 2011
Reproducing these support notes
You may download and print one copy of these support notes from our website for your reference.
Further copying or printing must be reported to CAL as per the Copyright Act 1968.
Generating and Protecting Business Ideas
Suggested Student Responses
Active Viewing Guide
1. What is a “niche market”?
It is a gap in the business marketplace that has not yet been filled or tapped into.
2. According to the founder of Free Serve, what is the first thing to do when you’ve thought of a good
business idea?
Do something about it.
3. Once you have developed your idea for a new product, the next step is to come up with what?
Prototype
4. Fill in the missing word:
Entrepreneurs are advised to invest a lot of time in further refining the idea until they are happy
with the final product.
5. James Dyson, the inventor of the cyclonic vacuum cleaner, spent how many years conducting
scientific research to develop the machine?
Circle one: 1
2
3
4
5
6
7
8
9
10
6. Dyson manufactured over how many prototypes before he got his design right and was ready to
release the Dyson into the marketplace?
Circle one: 1
10
15
50
100
500
5000+
7. How successful was the Dyson machine?
st
It was extremely successful and made James Dyson the 41 richest man in the Sunday
Times’ Rich List.
8. What British television program did Philip Taylor compete on before going on to become an
entrepreneur?
The Apprentice
9. List three sources from which a business idea may come:
A market niche
Scientific research
Identifying a trend
10. What is the branch of law applied in the legal protection of ideas?
Intellectual property (IP)
11. List three ways in which people can protect their intellectual property:
Copyright
Patents
Trademarks
8
© Video Education Australasia Pty Ltd 2011
Reproducing these support notes
You may download and print one copy of these support notes from our website for your reference.
Further copying or printing must be reported to CAL as per the Copyright Act 1968.
Generating and Protecting Business Ideas
12. Circle true or false for the following statements:
d) Copyright exists as soon as you have created an original piece of work.
True
or
False
e) Copyright on written compositions and software remains in effect for 100 years.
True
f)
or
False
Copyright on sound recordings remains in effect for 50 years.
True
or
False
13. Which term is used to describe how a new invention is protected under law?
Through obtaining a patent.
14. What three stipulations are made for patents to be issued for an invention?
The invention must be new, involve an inventive step and have an application or use.
15. Suggest three reasons why protecting your invention may not be the best solution.
The initial and ongoing annual patent costs
The time required to get the patent awarded
Security because not disclosing the idea by post or other means prevents anyone from
copying it.
16. What is the term used for the protection of a company image?
Trademark
17. What forms can a trademark take?
Words
Letters
Logo
A combination of word and logo
Shape
Color
18. What is the sign used to identify that your trademark is registered? Describe and draw your
response.
The letter R within a circle ®
19. What do the letters TM mean in terms of the registration of a trademark?
That the trademark has been applied for. A trademark has not been certified as
“Registered” when it merely shows the TM mark.
9
© Video Education Australasia Pty Ltd 2011
Reproducing these support notes
You may download and print one copy of these support notes from our website for your reference.
Further copying or printing must be reported to CAL as per the Copyright Act 1968.