There are different types of intellectual, intangible property protection, but the main ones are patents, trademarks, trade secrets, and copyrights ( Henao-Calad, M., Rivera-Montoya & Uribe-Ochoa, 2017) . Patents protect either inventive processes or ideas, which can also be used to protect newly engineered plant species as well as strains. Trademarks conventionally protect, symbols, phrases, words, or even color schemes, which are intangible assets describing or identifying the sources of certain underlying services or products that companies provide. Copyrights are used in protecting ideas expressed as the original work of the authors, for example, music, art, or even architectural drawings. Trade secrets distinctively are the proprietary systems, procedures, formulas, devices, strategies, or any other information considered exclusive and confidential to the organization using them ( Henao-Calad, M., Rivera-Montoya & Uribe-Ochoa, 2017) .
An example of a business dispute is a case of Ositos & co (Little Bears & co) Vs. Haribo, which presented chewy gummy bears, ranges trademark infringement (Montero , 2020). The Ositos & co, which is a Spanish startup company, has been in operation for barely three months. In January of this year, the German confectionery multinational Haribo served them with a cease-and-desist letter for intellectual property infringement. The small bear-like sweets are considered as Haribo's intellectual property, so they sought a legal redress, which required Ositos & co to give up the rights of ownership of its domain name. However, there is are some distinct features between the two products as Haribo deals with confectionery while Ositos & co sells alcoholic sweet flavors. Haribo further threatens to take legal action if Ositos & co do not comply with their demand. Ositos & co, contrary, do not want to lose their trademark since they would be out of business so they would continue selling their products to their Spain, France, and the UK customers – to send a message that their bears will not stoop to intimidation.
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Remedies for infringement of Intellectual Property include payment to the owner of the copyright of any profits earned by the infringer as well as any losses the copyright owner suffered. The judge can also give the guilty party a restraining order to keep them from the activities of infringement ( Henao-Calad, M., Rivera-Montoya & Uribe-Ochoa, 2017) . For the IP owner to prove that their copyright, trademark, the patent has been infringed, they need to show that the infringer indeed copied their original work and that infringement implicated their rights as the owner of the intellectual property.
References
Henao-Calad, M., Rivera-Montoya, P. A. U. L. A., & Uribe-Ochoa, B. E. A. T. R. I. Z. (2017). Knowledge management processes and intellectual property management processes: an integrated conceptual framework. AD-minister , (31), 137-160.
Montero Mai (2020, 14 February). Intellectual Property: Alcohol-laced gummi bears pit Basque youths against German giant Haribo. Retrieved from https://english.elpais.com/economy_and_business/2020-02-14/alcohol-laced-gummi-bears-pit-basque-youths-against-german-giant-haribo.html
