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3 lessons from Apple’s billion dollar win

Apple’s big patent victory over Samsung offers a few key takeaways for entrepreneurs.

Recently, Apple won a billion-dollar infringement case alleging rival smartphone manufacturer Samsung had infringed upon several of Apple’s registered U.S. patents. At stake was Samsung’s ability to use certain technology in its tablet and smartphone devices that Apple claimed was protected under various patents owned by the technology giant. The jury decided in Apple’s favour, awarding damages in the approximate amount of $1 billion. So what can you learn about Samsung’s misfortunes and Apple’s continued riches? Plenty.

In business, we often look for shortcuts to get a product to market faster and more cost effectively. Perhaps it is “borrowing” content from another website to include in yours. Maybe it is adopting a name that somewhat sounds like a famous competitor’s but not exactly. No matter what the shortcut may be, if you get caught, you could pay a hefty price. Just ask Samsung.

1. Know What Can Be Protected

As a threshold issue, the only way that you can respect another’s intellectual property is to have an understanding of what can be protected. In general, there are three main forms of intellectual property: patents, trademarks, and copyrights.

…to read this article in full, visit leading US small business resource, Inc.

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