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Copyright and ip1

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Protecting Intellectual Property in Foreign Markets

Beginning from copyrights and patents, IP has also become a valued business resource in

the modern landscape. In fact, IP can be the difference in how a company generates its revenues.

It has, therefore, become essential for businesses to recognize their IP as one of the most

valuable assets (Battisti et al. 2015). They should work hard in mitigating the risk associated

with infringements on IP, as a way of ensuring business viability in the domestic and global

markets. For companies that suffer high IP risk, various strategies outlined below may be used to

reduce and transfer the risks.

I. Registering Copyrights/Trademarks and Applying for Patents

It is imperative that companies register their relevant copyrights and trademarks and

consequently applies to the patents relevant to their ideas in the target market (Gabriel et al.

2017). Obviously, there will be many competitors in a specific market and copying and

duplicating of other company’s innovations will be rampant. Different rules, however, govern

each of the target markets. Typically in applying for patents, companies require the services of

patent agents and IP office assistant in the respective market. Aside from choosing the market,

the business should timely apply for patents to protect their innovation before other companies

do so.

II. Establishing Contractual Security

Businesses have a task of protecting their IP by considering vigilantly constructed legal

agreements. In international business, some of the contracts to consider for protecting IP should

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have various features such as Non-disclosure Agreements (NDAs). These contracts make sure

that work agreements, sales, permits, and agreements on technology transfer protect the IP from

the start (Lutz, 2015). Additionally, they should contain clauses that cover the IP. Some of such

clauses include explicit ownership clause. It is essential that after establishing the contract, the

business should continually engage their partners, to strengthen the importance of recognizing

these clauses in their business relationship. This will also help the business partners comprehend

their obligation in their collaborations.

III. Acquiring Insurance

Acquiring insurance can be an essential way an organization transfers its IP risks.

Insurance on IP normally protects the company against any significant legal costs that can arise

where the business needs to pay costs for pursuing IP claims in a court system. Insurance can

thus cover the cost in enforcing and defending the claims. Enforcing claims usually arise when

there are breaches on the company’s IP. Claims are enforced against infringers. Therefore, the

legal cost associated with breaching IP can include damage and losses in revenues as well as the

loss of reputation. It can also cover settlement to an IP right either locally or internationally. On

the other hand, insurance can cover an infringement claim against the company. Defending

claims are usually made against an organization. Claims can also be made against the

organization’s customers and licenses. If a company violates copyrights or in some cases

involves itself in the theft of IP, infringement claims can be made against it. Such claims can as

well be due to plagiarism.

Purposes of IP rules

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Copyright and IP Protecting Intellectual Property in Foreign Markets Beginning from copyrights and patents, IP has also become a valued business resource in the modern landscape. In fact, IP can be the difference in how a company generates its revenues. It has, therefore, become essential for businesses to recognize their IP as one of the most valuable assets (Battisti et al. 2015). They should work hard in mitigating the risk associated with infringements on IP, as a way of ensuring business viability in the domestic and global markets. For companies that suffer high IP risk, various strategies outlined below may be used to reduce and transfer the risks. I. Registering Copyrights/Trademarks and Applying for Patents It is imperative that companies register their relevant copyrights and trademarks and consequently applies to the patents relevant to their ideas in the target market (Gabriel et al. 2017). Obviously, there will be many competitors in a specific market and copying and duplicating of other company’s innovations will be rampant. Different rules, however, govern each of the target markets. Typically in applying for patents, companies require the services of patent agen ...
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