International Property Rights

As the world gets smaller as a result of improved transportation, logistics, and communication capabilities, the rights of proprietary products and concepts comes into question on a global scale. The debate over the property rights of patents, copyrights, trademarks, and trade secrets have traditionally taken place within the confines of each national legislature. Multinational organizations, intent on protecting these properties as they conduct business across borders, demand collusion on the part of international agencies and participating nations.

According to Lascu (2008), “violation of intellectual property rights is the most significant threat to competitiveness of companies involved in international business” (p. 46). The organization or the inventor of a product, for example, is protected against replication of that product by a patent. The protection of a patent is currently afforded to those operating within the jurisdiction of the patent office that issues that patent. In order to prevent the loss of this valuable property, global trade regulators must act to create a single standard. Similar challenges are held in the protection of arts and music along with other proprietary organizational property.

While counterfeit property is somewhat rare within the United States, those of us who have traveled abroad can attest to the rampant availability of such merchandise abroad. Walk through the old streets of Dubai, for example, and you will be offered many a fine “Rolex” watch. The lack of enforcement of trademark protection is directly affecting the Rolex company. In addition, many consumers purchase such counterfeit products under the assumption that the product will have been constructed with the same care and authenticity as the original. In order to protect both consumers and corporations from purveyors of counterfeit goods, enforcement must take such vendors off the streets around the world.