Requesting 200 words response to the following post using at least three substantive peer-reviewed scholarly journal articles (different than in the below post) to provide those substantive replies.
1. Key Term and Why You Are Interested in It.
After reading Brian Satterlee’s “Cross Border Commerce”, this author developed a general academic curiosity in intellectual property. In the realm of business, this researcher is specifically interested in protecting intellectual property. In order to be successful in global business, one must understand how to protect intellectual property from theft both inside and outside of the company. This researcher also found this topic of great interest due to the dynamic way intellectual property impacts business operations and decision making.
As one with experience securing trademarks and copyrights, this author both appreciates and knows the importance of protecting intellectual property. In business, securing a patent can potentially be the difference between whether or not a business receives compensation for its efforts.
Having knowledge of something offers one the highest chance to make money. Knowledge can be lucrative if it can be protected from unauthorized duplication, reproduction and replication. Indeed, knowledge is power. This author is interested in intellectual property because understanding how to protect property is an essential component of doing business internationally.
2. Explanation of the Key Term.
Property is “classified as both physical and intellectual” (Satterlee, 2019). More specifically, property highlights the broad categories of patents, trademarks and copyrights. Understanding the importance of intellectual property is vital in business. This is true because a firm’s brand and knowledge is tied to its intellectual property. If a brand’s image or knowledge is stolen, a firm’s image and income may be at stake. This author plans to focus on protecting intellectual property.
Having some standard of intellectual property protection aids in trade. This is not only true of domestic trade, but also international trade. Scaterlee (2018) states that trade “is the trading of property in order to receive monetary value”. Ideas are the cornerstone of trade as they “spur the development of new goods” (Scaterlee, 2018). Therefore, protecting intellectual property is an essential part of promoting international trade.
3. Major Article Summary.
Authors Grebski and Wolniak (2018) published “Global perspective for protecting intellectual property-patenting in USA and Poland” in order to explore the different methods of protecting intellectual property. The paper seeks to compare the process needed to secure a patent in the United States compared to Poland. Furthermore, they accentuate the importance of protecting intellectual property by recognizing its ability to generate profit and fuel the economy.
The ownership of a patent may be secured in one of two ways: individual ownership or company ownership. Individual ownership of a patent is least likely, as it must prove to be independent of any employee responsibilities. Company ownership is far more common as employees skilled in a certain line of work will most likely work under such a firm. In fact, employees are “required to sign an agreement relinquishing to the company ownership of the intellectual property” (Grebeski & Wolnaik, 2018). Although the company has marketing rights, the inventor still receives 50% of the profit. One benefit of working with a company is that they are responsible for paying all costs associated with securing and maintaining the patent.
Grebeski and Wolnaik (2018) state that protecting intellectual property should be top priority in knowledge-based economies as they “generate profit which is needed to fuel the economy”. The current methods for protecting intellectual property are employee confidentiality agreements, copyrights, trademarks and patents. Grebeski and Wlnaik found that patent protection is only recognized in the issuing country. This provides an advantage for larger countries. However, smaller countries may need to file for patents in multiple countries.
Grebeski and Wolnaik argue that the United States has a big advantage by way of providing provisional patent protection. Provisional patent protection is an effective option that provides firms with twelve-month protection at the early operational stage. This alternative is valuable as it allows firms to disclose and market their products without fear of theft. Furthermore, they can “test the market or generate a profit to apply for a nonprovisional patent within twelve months” (Grebeski & Wolnaik, 2018). Overall, this is recognized as a wise and attractive protection method that Poland and other countries should consider adopting.
4. Discussion Part a.
In the text, Satterlee (2018) stresses the importance of protecting intellectual property. He notes that property rights are essential for providing businesses with a global standard of protection. Not only do they provide rights over creations of the mind, but over distinguishable goods and services as well. Along that line of thought, Grebski and Wolniak (2018) addressed several methods for protecting intellectual property. In the text, Satterlee shared how protecting intellectual property can provide inventors enough time to fully develop their products without fear of theft or competition. Although Grebski and Wolnaik focused on the United States and Poland, their paper still reveals the importance of patent protection across the globe.
This week’s module discusses “The external environment and risk inherent in cross border commerce” (Satterlee, 2019). There is constant pressure to improve international trade as it is essential to global survival. Grebeski and Wolnaik’s article directly relates to this concept as they explore the methods for protecting intellectual property.
4. Discussion Part b.
While Grebski and Wolnaik (2018) addressed methods for intellectual property protection on a global scale, Wright and Katz (2016) advocate “for establishing classroom norms for promoting and protecting student intellectual property”. After a collection of interviews, one of their main findings revealed a strong need for explicit policies regarding student protection and ownership. This research is important as it stresses the importance of only protecting intellectual property on a global level, but a domestic level as well.
Kim and Han (2019) aimed to examine insider threats toward intellectual property. According to their findings, there has been an increase in the number of internal and external attacks. They showed that employee compliance was directly related to information security and procedural countermeasures. Again, this supports Grebski and Wolnaik’s report as they discuss the importance of safeguarding intellectual property from employees.
While Grebski and Wolnaik (2018) addressed methods for intellectual property protection in Poland and the United States, Gallie and Legros (2012) addressed French strategies for protecting intellectual property. Their findings revealed that French firms relied on protection in the form of non-statutory mechanisms and intellectual property rights. Overall, they concluded that instead of a one-size-fits-all protection method, allowing the type of innovation to influence the protection strategy is the best method.
Authors Buchanan and Wilson (2014) published “An experiment on protecting intellectual property” in order to explore whether or not intellectual property causes innovation. Set in a laboratory, they conducted an elaborate experiment that tested the reactions of participants concerning whether or not they would develop their own ideas or use existing protected ideas. Overall, they discovered that protection served to encourage innovation by allowing creators to profit from their work. This relates to Grebski and Wolnaik’s paper as they addressed the benefits of protecting intellectual property.