Intellectual Property Protection and its Key to Growth

Globally, the United States is Considered among the healthiest open markets. This open market system makes it possible for entrepreneurs, small companies, and large corporations to deliver a huge selection of goods and services to the American marketplace. The spoils of success are returned to the share and stake holders of their business because the United States market isn’t socialistic in nature. This financial setting fosters an environment in which innovation is encouraged and technology advances daily. However, a problem that a number of these companies face as technology becomes more easily available to the average consumer is the protection of intellectual property. The intent of this report is to educate the reader of the value of intellectual property and reveal the most frequent forms of protection.

Quick movements towards globalization have gradually transitioned from a national problem to an international issue also. This is very important considering studies in recent years have estimated that over 50 percent of U.S. exports now depend on some kind of intellectual property protection, in contrast to less than 10 percent 50 years ago Intellectual Property, 2012, para. 6. These statistics reveal that foreign customers wish to learn the technology behind the product no matter the ethical boundaries in doing this. Additionally, it indicates that these economies wish to evolve from being an exporter to a competing manufacturer negatively affecting market share of their host firm. This action of info on other companies’ intellectual property rights will frequently occur without being detected until the data has been compromised. The results from this may be harmful after the guarded trade secrets are exposed.

Duffin and Watson 2009 suggested that, Intellectual Property might be a franchise system’s main asset p. 133. This may include trademarks, service marks, trade dress, copyrights, patents, and trade secrets Duffin and Watson, 2009, p. 1. Dependant on the company function the intellectual property protection singapore might be the sole means for survival within the market place. When contemplating expansion many companies may not move critical parts of the operation into overseas markets. Some companies are so cautious that few of those elements might have been deliberately withheld from the firm’s patents, in the USA and in the foreign country, to be able to prevent other parties from having the ability to replicate its technologies. The purpose behind this method is that once a company applies for a patent the company must disclose every detail.