Intellectual Property

Beth

1 year ago

Intellectual Property

How can a global firm protect its intellectual property? Research and share a real life example.

More often than not, multinational corporations venturing into new markets acquire intellectual property rights for their products and production processes, among other unique features. Firstly, firms can protect their intellectual property by registering trademark copyrights, establishing legal contracts, applying for patents, and acquiring insurance (Zhang et al., 2018). The intellectual property application processes vary across departments and nations depending on the law governing the subject. Firms need to implement the process to prevent replication by competitors effectively. Need help with your assignment ? Reach out to us. We offer excellent services.

Secondly, companies should protect intellectual property through establishing constructed legal contracts, comprising the Non-Disclosure Agreements (NDAs) and clauses. The former ensures that employment contracts, licenses, technology transfer, and sales contracts protect intellectual property throughout its life cycle (Zhang et al., 2018). The clauses should encompass intellectual property features such as the ownership clause. After establishing the contracts, the company should engage with its key partners in emphasizing the importance of the clauses on business relations. The third approach executes the security measures whereby firms enhance the security measures when venturing into international ventures. The security strengthening practices comprise performing background checks on the firm’s key business partners, restricting access to intellectual property by the stakeholders, e.g., employees, restricting unauthorized copies of the intellectual property, and encrypting the IP. The last step entails acquiring insurance that safeguards the company against damage arising from the violation of its intellectual property laws.

International companies such as Coca-Cola and KFC demonstrated the effective implementation of intellectual property laws. To date, coca coal dominates the global soft drinks market due to the absence of a similar product in the market. The firm obtained a patent for the ingredients and recipe used in manufacturing the soda. Similarly, KFC’s unique taste remains uncontested as the company obtained patents when venturing into international markets. The crispy taste comprises the company’s trademark.

References

McGraw-Hill Irwin. Japan: An Idea Takes Root [Video]. Retrieved 13 March 2021, from https://www.viddler.com/embed/1a4a9942/?f=1&autoplay=0&player=full&disablebranding=0.

Zhang, J., Gu, Z., Jang, J., Wu, H., Stoecklin, M. P., Huang, H., & Molloy, I. (2018, May). Protecting intellectual property of deep neural networks with watermarking. In Proceedings of the 2018 on Asia Conference on Computer and Communications Security (pp. 159-172).

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