Case Study Scenario:

Background: Imagine a small software development company named "NovaTech" that has recently created a groundbreaking application called "SmartSaver." This application uses cutting$-$edge technology to help users save money by optimizing their daily expenses. SmartSaver has the potential to disrupt the personal finance industry and generate significant revenue for NovaTech.

Case Study Timeline:

January $1,$ Year $1$: NovaTech starts developing the SmartSaver application.

June $1,$ Year $2$: SmartSaver is officially launched and gains popularity.

October $15,$ Year $2$: A competitor, $$TechSavings$,$ releases a similar application with some features identical to SmartSaver.

Case Study Questions:

$1.$ What is the different form of intellectual property and how do they apply to NovaTech situation?

$2.$ What steps should NovaTech have taken to protect its intellectual property rights during the development and launch of SmartSaver?