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Firms spend millions of dollars establishing brand names or trademarks to symbolize quality and design only to be counterfeited and pirated Piracy and counterfeiting leads to lost sales from the unauthorized use of U.S. patents, trademarks, and copyrights which amount to about $60 billion annually as well as lost jobs Counterfeited pharmaceutical drugs can also lead death and bad publicity There is inadequate protection from products being counterfeited or pirated as many countries do not recognize trademarks and patents registered in other countries 4.10 Intellectual Property Rights, Counterfeiting and Piracy In the United States, a common-law country, ownership of intellectual property rights is established by prior use In many code-law countries, ownership is established by registration rather than by prior use For example, a trademark in Jordan belongs to whoever registers it first in Jordan so there are “McDonald’s” restaurants, “Microsoft” software, and “Safeway” groceries all legally belonging to a Jordanian Intellectual Property Rights, Counterfeiting and Piracy The Politics Law Environment Chapter 4 Chapter Learning Objectives 1. What does the sovereignty of nations mean and how can it affect the stability of government policies, political parties and nationalism. 2. The political risks of global business and the factors that affect stability 3. The importance of the political system to international marketing and its effect on foreign investments 4. The impact of political and social activists, violence and terrorism on international business 5. Assessing and reducing the effect of political vulnerability 6. How and why governments encourage foreign investment Chapter Learning Objectives 7. The four heritages of today’s legal systems 8. The important factors in jurisdiction of legal disputes 9. Issues associated with jurisdiction of legal disputes and the various methods of dispute resolution 10. The unique problems of protecting intellectual property
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