Today, it is not necessary to be a large company to enter our products in international markets. Globalization and technological advances allow small and medium enterprises, including micro-enterprises, unprecedented access to export markets.
Now, being in the markets of other countries means competing on the world stage. In a competitive market, a strong brand and the protection of the process of a product can become the most valuable commercial asset as it will contribute to increasing consumer loyalty and will allow higher prices to be demanded.
Therefore, selecting intellectual property protection (IP) mechanism is essential; It is also necessary to determine the requirements to protect the product and how much it will cost to enforce that protection. A trademark or patent only means something in a market if its owner is prepared to defend it against infringements.
Intellectual property protection (IP) mechanisms are only effective if evidence of infraction is monitored. There are several types of crime:
Literal Infringement: Each of the elements of a patent claim is found in the product or process of the alleged Infringement.
The doctrine of Equivalences: when the product or process of the alleged Infringement is substantially the same as the patented product or process.
Tax Infringement: when a party contributes to patent infringement by selling a component that has no other use except as part of a patented product.
Induction to the Infringement: An active and informed person helps and incites another person who is directly infringing a patent. The lack of vigilance for Infringement of intellectual property can lead to the loss of the patent or the protection of the trademark, for example:
- When a patent holder waits too long to file a complaint.
- When an alleged infringer, based on actions or communications of the patent holder (liabilities), reasonably believes that he can continue practicing the patented production process.
The control of intellectual property infringement is also an essential function in the prevention of counterfeiting. Counterfeit products can lead to losses of millions of dollars, depending on the product and how long it persists without being detected and acted upon.
It also has the potential to be dangerous for consumers. Industries such as the pharmaceutical industry invest significant resources to prevent counterfeiting, which can have disastrous results. In addition, counterfeiting can undermine a company’s reputation and brand image.
The protection of patents and trademarks at the international level
The World Intellectual Property Organization “WIPO” supports companies worldwide, from large companies to small and micro enterprises, by providing Intellectual Property Services to help protect companies’ investment in innovation through its Madrid System. The WIPO Madrid System is an intelligent business solution for all companies that wish to license their products or otherwise market them in foreign markets.
Conclusion of Protection of Trademark in India
The lack of patent and trademark protection can cost companies millions of dollars in lost sales if they do not adequately evaluate and value Intellectual Property.
In addition, you run the risk of losing millions of dollars in the investment of resources in research and development, acquisition of facilities and equipment, training and creation of corporate brands and images for unscrupulous competitors who do not share the burden of these initial product development activities, and take advantage of the lack of protection of Intellectual Property.
The protection of Intellectual Property is an essential aspect of commercial activities that are an integral part of the position of a company and its products in the international market.