Impact of Piracy on Businesses (Grade 10 NSC Matric Business Studies): Flashcards
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Define piracy
Define piracy
Unlawful copying of products/ideas without permission
Define imitation
Define imitation
Product replicated & sold without authorisation
How piracy impacts sales
How piracy impacts sales
Significant sales drops; customers buy cheaper illegal copies
Define copyright
Define copyright
Legal protection preventing reproduction without permission
Define patent
Define patent
Exclusive rights stopping others producing/using invention
Patent protection duration in SA
Patent protection duration in SA
20 years from registration date
Define trademark
Define trademark
Names/symbols/designs identifying products from competitors
Trademark registration body in SA
Trademark registration body in SA
CIPC (Companies and Intellectual Property Commission)
Trademark protection duration
Trademark protection duration
Forever if renewed every 10 years
Legal expense impact of piracy
Legal expense impact of piracy
Companies spend money on costly legal action against pirates