Management of Intellectual Property

2021-05-21 19:01:39
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Bilateral against Multilateral

The economy of a country is influenced by the kind of policies it establishes when engaging in international trade. According to Crump and Druckman (2012, 11), the departure from or change in a process, especially in a negotiation, marks the first step in a transition. It is evident from the case study that the complexity of signing up of treaties and reaching agreements initiate the departure from a bilateral system to the multilateral system. In two-way systems, treaties are signed between two like-minded countries limiting other countries from participating in their trade. It forces some states to change their legislative rules to adhere to the particulars of the protection treaties. Consequently, it results in unequal trade imbalances fueled by uneven property protection. On the other hand, the development of multilateral trade brings in greater economic developments. The advantages it presents include, first, the creation of equality in trade among countries. Second, it provides a consistent and fair kind of business that is open for all. Third, it eases up on trade by eliminating the cumbersome signing of treaties and drawing of agreements. However, its significant disadvantage stems from the fact that it takes longer to reach a deal since it involves many states.

Territoriality of Protection of Intellectual Property

According to Al-Aali and Teece (2013, 18), protection of intellectual property is currently based on territory. This results from the challenges in multilateral trade system. On the other hand, it is the developed countries that generate most inventions. Hence, they feel that it is their responsibility to create and enforce these intellectual rights as a means to protecting their products. Currently, different trade organizations are created to serve the needs of countries within a particular geographical boundary.

Movement of Intellectual Property

In regards to Al-Aali and Teece (2013, 19), the legal framework of intellectual property management is changing, driven by the current changes in the global economy, which includes the inventions in technology and products. The usage of the internet to conduct business is rapidly becoming popular, hence, the need to make changes in the legal framework as new policies have to be drawn to incorporate these developments. Before these inventions, the value of commodities involved the licensing of inventions. Characteristic of this period is the simplicity in commercialization strategies and protection using one patent. Currently, intellectual property management is integrated with the overall business models and corporate strategies. The benefit of this change is that it achieves commercial success.

 

References

Al- Aali, A.Y. and Teece, D.J., 2013. Towards the (strategic) management of intellectual property. California management review, 55(4), pp.15-30. Available at https://www.researchgate.net/profile/Abdulrahman_Al-Aali/publication/256229345_Towards_the_Strategic_Management_of_Intellectual_Property_Retrospective_and_Prospective/links/0a85e535f44b331ded000000.pdf [Accessed on 18 October 2016].

Crump, L. and Druckman, D., 2012. Turning Points in Multilateral Trade Negotiations on Intellectual Property. International Negotiation, 17(1), pp.9-35. Available at https://www.researchgate.net/profile/Daniel_Druckman/publication/228182302_Turning_Points_in_Multilateral_Trade_Negotiations_on_Intellectual_Property/links/0c960525c2f1e0ab10000000.pdf [Accessed on 18 October 2016].

 

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