QUESTION $2-$ Case $2$: Protecting Intellectual Property

Lisa, Raveena and Siti were childhood friends who had always talked about starting a business together after college graduation. Lisa had the financial background and startup capital to contribute and Raveena and Siti had the technical knowledge they believed would give them the competitive advantage needed to become an industry leader.

During their early college years, Lisa and Raveena developed a new and innovative way to manufacture computer components. When they shared their idea with Siti, she was able to draw up a detailed business plan to present to potential investors when the three were ready to launch their venture. They had been very careful not to disclose anything about their innovative idea to other colleagues or any of their friends and were anxious to get started.

After selecting the company name "Millennium Computers" the three friends come to you for advice on intellectual property rights.

a$)$ To protect their innovative process for manufacturing computer components from unauthorized use, which type of intellectual property should the three some apply for? $(5$ Marks$)$

b$)$ Should they consider protecting or registering their company name? Which intellectual property would cover this concern? Could they use the name without registering it$?(5$ Marks$)$

c$)$ Since the primary weapon to protect intellectual property is the legal system, what would you advise the friends if they have to protect intellectual property sometime in the future by threatening a lawsuit? $(5$ Marks$)$