Diffusion of technology via protected Intellectual PropertyThe company is looking into its medical products again. To what extent do you think that multilateral efforts (e.g., TRIPS, WIPO, etc.) are effective in protecting our intellectual properties? What are the best ways to protect our intellectual assets?
DIFFUSION OF TECHNOLOGY THROUGH
COMMERCIALIZING OF IP/KNOWLEDGE
Intellectual property (IP): products of the human mind, ownership of which is protected by law. IP represents a firm’s proprietary knowledge. Common forms of IP: – Patent: Grant the inventor of a new product or process exclusive rights for a defined period to the manufacture, use or sale of that invention – Trademarks: The designs and names, often officially registered, by which merchants or manufacturers designate and differentiate their products. – Copyright: Exclusive legal rights of authors, composers, playwrights, artists and publishers to publish and dispose of their work as they see fit. IP PROTECTION: WIDE NATIONAL VARIATIONS Why?
- Legal systems:
- Common vs. civil law
- Effectiveness of law enforcement
- Cultural values: different perceptions of property and property ownership
- Level of economic development
- TRIPS (Trade related aspect of intellectual property rights) reinforces existing conventions on IP, administered by World Intellectual Property Organization (WIPO)
- Does NOT set up universal system for IP protection
- However, DOES set out minimum standards that national systems must adhere to.
- National differences in IP protection, caused partly by culture and history, remain
- Industrialized countries hold 97% of patents
- more than 80% of patents granted in developing countries go to residents of industrialized countries.
|- Stronger IP protection in developing countries will stimulate FDI and technology transfer - Will encourage local firms to create/adapt knowledge||- May lead to a higher cost of acquiring knowledge - Pace of imitation may be slowed - Shift in bargaining power from users to producers of knowledge - High compliance costs|
Global business environment memorandum
To: KELLY Anderson, Chief executive officer
From: insert your name, marketing research assistant
Subject:protecting intellectual properties
We as an organizationshould adopt yet again then WTO, TRIPS negotiation on the intellectual property protection that will ensure that our product remains unique and our products are fully protected. This is the fact that in the developed countries which host the global largest intellectual property producing industries are key in the advocating for the comprehensive minimum standards of protection and in henceforth the enforcement of the best IPRs.
Most of the developing countries which see themselves as a consumer of this intellectual property protection, in most cases have a feeling that considerably stronger protection of the intellectual proprieties such as WTO, TRIPS agreements would serve as better access to the new technologies and products in this way promote their development prospects. Although this Trip remains one of the most controversial forms of agreement on the WTO (Sherman et al., 2014).
For the multilateral trade systems, WHO, TRIPS has over the past marked the departure from the considerably narrow negotiations on border measures based on the tariffs and quotas towards the establishment of arule that affects the actions beyond the borders. According to my operations, an additional consideration would be that IRPS are likely to influence the international diffusion of the new technologies which areessential to our production(Fawcett, 2011).
Intellectual property is considered rampant and has an impact on a considerably wider range of industries.Specifically, this privacy hurts the pharmaceutical industries.This pharmaceutical industry which is protected by trademarks laws ad copyright protectionrelies on the developers of the computer’s software and literacy. Different countries deny the patent protection of the pharmaceutical products which requires sometime and expenses to develop and bring it to the market.
The best way to protect our intellectual rights as a medical business is through the use of the different WTO, TRIPS agreements on rights especially those that prevent others from using our interventions and designs. Thisis specified through the adoption of patented brand name and product logos which can be employed as registered trademarks. The extent of medical product protection and enforcement of these WTO agreements can narrow down the gaps in the way that these rights are protected around the world(Sherman et al., 2014).
Thiswill, also, bring the under the standard international rules and as such the intellectual property of our company will be protected beyond our borders. The implementation of the intellectual property for our product relies on our judicial systems which I trust on ensuring that our copyright protection remains safe and block other organizations from copying our products. To stop the copyrightinfringing activities can request a seizure or preliminary injunctions(Middleton et al., 2010). This will enable us to claim any form of our rights infringement by trial, and as such we can ensure our intellectual property is protected, and a payment of any unitive charge can be claimed over the title holder.
Bently, L., & Sherman, B. (2014).Intellectual property law. Oxford University Press, USA.
Fawcett, J. J. (2011). Intellectual property and private international law.Oxford University Press.
Colston, C., Galloway, J., & Middleton, K. (2010).Modern intellectual property law (Vol. 308). New York: Routledge.