The purpose of this assignment is to identify intellectual property obstacles that would potentially affect your business idea.

Write a paper (500-750 words) describing the process you would use for the construction of a product or service name. Create a name for your business venture and check for availability on the intellectual property websites. Research how and when a patent would be advisable. Consider the various paths for new product names. Within the paper, include the following:

1. Advantages and disadvantages of the four types of intellectual property (patents, trademarks, copyrights, and trade secrets) and examples of international distinctions.
2. Classifications of intellectual property and which would apply to your business venture.
3. A decision and justification regarding the use of intellectual property related to your venture.