Protecting Intellectual Property – The Reality
There is perhaps no other strategic asset more important to a company than its intellectual property, and protecting it is vitally important to the future success of a company. Regardless of which country you enter you must be aware of the laws in place in that country that deal with IP protection. The reality is that for most small firms the ability to protect your IP will be too costly to recover or gain compensation from a foreign firm should it be taken from you. There are a host of intellectual property agreements in place throughout the world. As mentioned in previous sections, international markets are governed by the laws and regulations in that country not the laws of your country; therefore it is important to understand what rights you have in the market you enter.