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BUSI 604-D02 Discussion Board 2 Intellectual
Property Rights
International Business (Liberty
University)
lOMoARcPSD|22015503
BUSI 604-D02 Discussion Board 2: Intellectual Property
Rights
Gavin Teets
Liberty
University
My Interest with Intellectual Property Rights
It's exciting to think of an idea or notion as a piece of property
with its own set of rights. At a time when firms respect creativity and
uniqueness,
intellectual property rights give value and protection
to them. The
commandment not to steal is respected by intellectual
property rules, but
how much information should be hoarded?
Every person has a God-given ability, and every good item
produced is a gift from God designed to be shared, according to
the Bible (New International Version, 2010, 1 Corinthians 7:7).
Principles applied in the field of healthcare can have a
beneficial or detrimental impact on a person's life. The availability of
life-saving intellectual property rights may affect a person's ability to
receive treatment. Granting rights to the creator of each intellectual
property is appropriate, but there must be a balance that allows for
public use. Consumers gain and intellectual property growth is
promoted when intellectual property is used publicly.
Explanation of Intellectual Property Rights
Intellectual property rights provide value and protection to
businesses at a time when organizations appreciate creativity and
uniqueness. Intellectual property includes copyright, patents,
trademarks, and trade secrets. Consumers can identify businesses
based on their
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trademarks, and intellectual property safeguards against third-party
counterfeiting. When generating and recognizing intellectual
property, there are political and legal concerns to be made.
Intellectual property adds value to organizations by recognizing and
rewarding innovation and creativity.
Legislative protections for intellectual property are also in place.
When a trademark and copyright are registered, the US
Customs and Border Protection or the National Intellectual Property
Rights Center can assist in preventing counterfeit goods from
entering the US; however, the federal government has limitations,
and individual businesses must "aggressively protect their
intellectual property rights" (Espinosa & Quinter, 2020, p. 12). It is
critical to strike a balance between serving the interests of the firm
and meeting the desires of the client. Due to the difficulty of
asserting intellectual property, firms must assume responsibility for
its upkeep and dissemination in order to benefit their customers.
Major Article Summar
The link between foreign direct investment and intellectual
property rights was explored by Noon et al (2018). A "“cross‐border
investment made by a resident in one economy … to acquire a
lasting management interest in an enterprise operating in a foreign
economy" is defined as foreign direct investment (Noon et al., 2018,
p. 665). A detailed literature review of over eighty important papers
on intellectual property rights and foreign direct investment was
conducted as part of the study methodology. A detailed literature
review of over eighty important papers on intellectual property rights
and foreign direct investment was conducted as part of the study
methodology. Noon et al. (2018) did a synthesis of theoretical
pathways after reviewing a plethora of research journals and
publications to speculate if there was a positive, negative, or non-
significant relationship between foreign direct investment and
intellectual property rights. There is a dearth of a comprehensive
framework for researching the relationship between a firm's choice of
foreign direct investment location and intellectual property rights,
according to Noon et al. (2018). According to Noon et al. (2018),
improved intellectual property rights protection has a minor impact
on foreign direct investment. According to Noon et al. (2018)'s
literature review analysis, the impact of intellectual property rights on
whether multinational enterprises choose to invest in a foreign
location is dependent on the host country's stage of development,
the type of investment, and the receiving investor's technological
intensity. Investors' opinions of their competence to manage
intellectual property-related assets are influenced by the lack of legal
protection for intellectual property rights. Investors were more
prepared to spend as a result of the loosening of intellectual property
rights.
Noon et al. (2018) faced challenges measuring and
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understanding
data when completing the literature review. Another
issue was the scarcity of high-quality data on the protection of
intellectual property rights in relation
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to foreign direct investment. In the future, it is recommended to
perform a longer-term study of intellectual property rights,
including a division by industrial level. Furthermore, in the future,
an analysis and description of certain nations or classes of foreign
firms should be examined in terms of intellectual property rights.
Discussion
Political and legal factors are part of the external
environment and risk connected with cross-border commerce.
Legality is inextricably linked to intellectual property. When it comes
to intellectual property, striking a balance between recognising its
social or political components while protecting legal rights is tough.
Granting rights to the creator of each intellectual property is
appropriate, but there must be a balance that allows for public use.
The public use of intellectual property, as well as future intellectual
property enhancements, benefit consumers. In global trade and
investment, intellectual property rights have an impact on foreign
investment, mergers, and acquisitions (Campi et al., 2021; Noon et
al., 2018). Intellectual property rights can be traded over the world
and provide a competitive advantage in terms of location (Noon et
al., 2018). According to Campi et al., access to intellectual property
assets has an impact on mergers and acquisitions (2021). If a
company wants to expand globally, it should look at this possibility.
Maintaining intellectual property rights protection may be
difficult. "Regardless of how essential and necessary the goals of
privacy, reputation protection, or crime prevention are, intellectual
property law is not the ideal vehicle for attaining them," McKeown
(2019) says (p. 38). According to Espinosa and Quinter (2020), the
challenge for legal remedies in circumstances of counterfeits and
phony reviews is identifying and discovering the accountable parties.
Consumers may get perplexed as a result of a brand's or company's
deception. Leonelli (2018) highlights the challenges that judicial
settings pose in terms of intellectual property and its related norms
and applications. The intricacy of legal issues surrounding
intellectual property, according to Leonelli (2018), hinders the
implementation of intellectual property norms and standards. It's
worth noting that intangible assets like intellectual property are
valuable to businesses all around the world. In the face of ever-
changing technical breakthroughs and increased global connectivity,
intellectual property protection is difficult to enforce.
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References
Campi, M., Dueñas, M., Barigozzi, M., & Fagiolo, G. (2021)
Intellectual property rights and agricultural development: Evidence
from a worldwide index of IPRs in agriculture (1961- 2018). The
Journal of Development Studies, 57(4), 650-
668
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