INTELLECTUAL PROPERTY RIGHTS IN GLOBAL BUSINESS INTRODUCTION: An intelluctual involves(imagination and reason) one who tries to use his

or her intelligence and analytical thinking eiether in his professional or personal pursuit.Product of mind creativity is intelluctual property and the right to protect this property is the Intelluctual Propert Right.Intelluctual Property Right(IPR) relates to the right of an individual to derive benefits from his intelluctual property and to exclude others from doing so.Under IPR owners are granted a certain exclusive rights to a variety of intangible assets such as music,artistic works,ideas,discoveries,symbols and designs

KEY ELEMENTS OF IPR: 1. Copyright Copy Right is a legal term describing the economic rights given to creators of literacy and artistic works including the right to reproduce the including right to receive payment for their work and to perform or display the work publicly.Exception include fair dealing and fair use and such use doesnot includes the permission of the owner.All the other user require permissions and the copyright owner can license or permanently transfer or assing their rights to other 2. Trademark Trademark are commercial source indicators,distinctive signs that identify certain goods or services produced or provided by a specified person or enterprise.Trade

mark are especially important when the consumers and producers are far away from one another.Trademark is an exclusive mark intended to differentiate the product of one seller with the others.Trademark Act TM has been amended and consolidated as Trade and Merchandise Marks Act 1958 has been replaced by the Trade Mark Act 1999 3. Trade Secrets: Trade Secrets are classified as any information that may be used in business operations and that is sufficiently valuable to afford an actual or potential advantage.Trade Secret includes Financial Information,Commercial

Information,Technincal and Scientific Information Ex : Like Formula for products such as the formula for coca-cola 4. Patents: Patent is a form of certificate granted by a government.It gives the inventor the right to exclude others from imitating,using or selling the invention for commercial use during the specified period.Patent is valid only in the country that has granted it.The First Indian patent laws were formulated in 1856.These were modified from time to time.New patent laws were made after the independence in the form of Indian Patent Act 1970.The most recent amendments were made in 2005 which were proceeded by the amendments in 2000 and 2003

IPR IN INTERNATIONAL BUSINESS: 1) TRIPs Dunkal Proposal regarding Trade Related Intelluctual Property Rights TRIPs in respect to business and commerce include the parameters like

patents,copyrights,trademarks,industrialdesigns,geographicalindications,undisclosed information.This leads to protection for ones intelluctual knowledge,uniqueness in their findings and to commercialise their product for a certain period of time

2) NAFTA North American Free Trade Agreement came into being on January 1,1994.The most affluent Nations of the world USA and Canada joined together to form a Trade Block.NAFTA is expected to eliminate all tariff and trade barriers among the countries and to maintain the intelluctual properties during global trade

AVOIDING INFRINGING IMPORTS: Because of its border control responsibilities, the U.S. Customs & Border Protection is uniquely positioned to prevent these illegal importations.To be eligible for recordation with Customs, trademarks must first be registered with the Principal Register in the U.S. Patent and Trademark Office (USPTO), copyrights with the U.S. Copyright Office of the Library of Congress.

Registered works can be recorded via Intellectual Property Rights eRecordation (IPRR) online system.

Once a trademark, trade name, or copyright has been recorded, Customs has the authority to deny entry to or seize goods that infringe upon the recorded right.

CONCLUSION: Every company has IP assets though many dont adequately protect theirs.To protect IP assets, companies must Identify, Secure & Enforce IP rights in US and abroad. A Proactive strategy with regard to IP assets is generally much less expensive than a Reactive strategy