Abstract
Intellectual property plays a pivotal role in the international business transactions, serving as a key driver of innovation and economic growth. However, the global nature of these transactions introduces significant challenges in protecting and enforcing the Intellectual property rights. This paper explores the multifaceted issues surrounding the intellectual property in the context of international business, including jurisdictional conflicts, varying national intellectual property laws, enforcement mechanisms, and the rise of digital trade. Key challenges such as legal differences, technology transfer, trade secrets and confidentiality, cultural differences, counterfeiting and piracy, enforcement challenges. The analysis underscores the importance of international cooperation, harmonization of intellectual property standards through treaties like TRIPS Agreement, and the role of emerging technologies such as blockchain in improving intellectual protection. Ultimately this study helps for more robust global policies and collaborative efforts to address the challenges, ensuring equitable access to innovation while fostering sustainable economic development.
Introduction
Intellectual property Is refers to creation of the mind, such as inventions, artistic works, designs, symbols, names, and images used in commerce. It encompasses legal rights that provide creators and innovators with protection for their work, allowing them to benefit from their intellectual and creative efforts. However, intellectual property can also be subject to misuse, infringement or theft, especially in the globalized and digitalized world. It is important to understand the international laws and regulations that governs the protection and exploitation of intellectual property across different countries and religion.[1]
International business transactions are those transactions that refer to the trade of goods, services, technology, capital and knowledge across the national borders and are driven at global and transnational level. They involve cross border transaction of goods and companies between companies from two or more countries. Companies have built a global market by being able to do business transactions internationally.
Critical issues in international business transactions is the emergence of new technologies and digital platforms, which present both opportunities and challenges for intellectual property rights holders. The digitalization of commerce has facilitated the rapid dissemination of content and information across cross borders, leading to increased instances of online privacy, counterfeiting and unauthorized use of intellectual property assets. Additionally, emerging technologies such as artificial intelligence, blockchain, and 3D printing raise novel questions about the scope of intellectual property protection and the enforcement of rights in the digital environment.
Business must adapt to these technological advancement by implementing robust digital Intellectual property strategies, leveraging technological solutions to monitor and enforce their rights, and collaborating with industry partners and policymakers to addressing emerging the intellectual property challenges in the digital age.[2]
[1]Dr. G.B. Reddy, Intellectual Property Rights and the Law, Gogia Law Agency.
[2]What is international business transactions? – Malescu Law, PA – Miami FL Business & Immigration Lawyers