The Importance Of Intellectual Property In International Business

The company has to face the issues like tax regulation, import and export regulations etc.

The Organization for Economic Cooperation and Development (OECD) defines anti-competitive practices as the many ways firms restrict inter-firm competition to maintain or to increase their relative market position and profits without necessarily providing goods and services at a lower price or at a higher quality. The American Federal Trade Commission states that anti-competitive practices include activities such as price fixing, group boycotts and exclusionary exclusive dealings. These activities are generally grouped as agreements between competitors (horizontal conduct) and monopolization (single firm conduct).

When U.S business are thinking about going abroad, they need to be aware of the other country’s laws and regulations. “All businesses must, of course, follow the laws of the countries in which they are physically present and operating. Businesses may also be required, even in their foreign operations, to continue to follow certain laws of their home country. Also, businesses operating across national borders will also be subject to international law (Tony McAdams, 2014)”.

In a time of global commerce, new business ventures can take on many forms. What used to be local or even national companies have become world-wide. International growth of a business can be extremely beneficial but is not without its challenges. Different countries have different peoples and different cultures - different ways of doing business altogether. If a venture is to be successful, these differences must be well understood.

It is of upmost importance that as you enter into each foreign market every representative of the company has been well informed of the foreign antitrust legislation as well. This will limit the potential exposures the company undertakes, so we will also be examining laws that govern the Canadian, British and Chinese markets you will be entering. Making sure that all these guidelines are followed will allow for smooth transactions and business in the host country without any cause for repercussions.

An Introduction to the Law and Economics of Intellectual Property Author(s): Stanley M. Besen and Leo J. Raskind Reviewed work(s): Source: The Journal of Economic Perspectives, Vol. 5, No. 1 (Winter, 1991), pp. 3-27 Published by: American Economic Association Stable URL: http://www.jstor.org/stable/1942699 . Accessed: 24/11/2011 08:39

A company which is hoping to prosper in the foreign market must pay real close attention to the new countries laws and regulation. They also need to pay more attention the market that they are trying to sell the product to. Thus doing more research and positioning and constant improvement is necessary for the company to strive in order to reach the

Intellectual property rights were first born as far back as medieval Europe. During these times, groups of artisans in a particular industry were given permission from the government to control conduct in other industries. These group’s job were to oversee what items were being imported, marketed, produced as well as how new inventions were introduced to the market. [1] Intellectual law during this time period was driven mainly by political and religious reasons since they were a huge part of everyday life. In 1710, intellectual law was made more specific with the passing of the Statute of Anne. This gave inventors an initial 14-year protection period and a possible 14-year renewal. However, it did not protect the inventor from foreign-language translations and the people were able to complain if prices were too high. [2]

Intellectual property is an asset to an individual or a business. Even though intellectual property is intangible, it is very important to protect it. Protection of intellectual property can be one of the most important business decisions one can make.

Many companies today want to expand their business to the international business, which can bring cost down and profits up. Taking a business internationally means knowing the rules and regulations of the countries you are entering. There can be many issues with going global which include cultural barriers, diversity issues, multicultural issues, political issues, and economical issues. It is very important to know how important expansion is to the company and what implications will come from going global.

Description of cultural attitudes towards and presumption about whether a person can own words and knowledge. Indicate if modern trends such as globalization and easy access to information affected these and give consideration as to whether are also applicable in an organization. Also indicate if the presumptions hold true in ones career as an employee of the organization and how may this essay be relevant to ones work.

Before a company decides to internationalize, many researches should be done on culture, political situation and so much more. Knowing other countries’ laws and regulations will prevent such lawsuit against your company. Codes of conducts, ethics hotlines should be provided to employees and that has to come from the top management. Companies should look at long-term goals versus short-term goals; companies whose culture is to just make profits at any cost faces these type of situation Chiquita faced often. Even though outsourcing is a great way to cut back on costs, companies should be very careful which countries they select to outsource in to prevent them from having a bad reputation. For example if a company chose to outsource in let’s say Nigeria, things are very corrupt and doing business, outsourcing from there could be very profitable but in a very un ethical way. How you want to represent your firm depends on the character of you as a CEO. Either you make unethical decisions and get profitable very fast and get shares doubled in the wall street at any cost, or you have ethics and you rather do things right and slowly get to profits. Strategic planning is extremely important in doing business abroad, abiding by your core values and helping the community, making sure the public recognizes your firm in a positive always attract customers which generate more revenues.

Well known companies like Nike, Microsoft, Sony, Shell Group are just some of the big companies that went global and expanded their trading around the world, they are large businesses that operate internationally in many countries. Development of worldwide integration urges companies to reach out international markets and interact with foreign customers. Businesses focus on fulfilling the demand of the market by its products or services, besides their target is increasing profit, in order achieve these goals they favor to expand their work in a foreign market. Other reasons to internationalize their business may be to become

Intellectual property is critical to many companies in order to foster innovation and boosting their revenues. Many industries rely on the protection of patents, trademarks and copyrights as they are valuable assets for companies’ success. By protecting intellectual properties, it ensures that the original owner reaps full benefits from his/her ideas, features, products and creations.