IBUS1101 Lecture Notes - Lecture 11: Paris Convention For The Protection Of Industrial Property, 7-Eleven, Global Sourcing
27 Jul 2018
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Document Summary
Lecture 11 licensing, franchising and other contractual strategies. Contractual entry: cross-border exchanges relationship between firm and foreign partner governed by explicit contract. Focal firm has moderate level of control over partner (influence decisions, operations, strategic resources of foreign venture) Intangibles (intellectual property; know how, trademark) and services (tech) exchanged. Dynamic, flexible choice good for initial entry. Intellectual property: ideas/works created by firms/individuals (patents, trademark, copyright) Intellectual property rights: legal claim through which proprietary assets of firms/individuals are protected from unauthorized use by other parties monopoly advantage (exploit inventions for commercial advantage) Patent: protection granted to a firm by the government to prohibit others from making, copying or using the firm"s invention. Trademark: protection granted by government; applied on symbol/slogan/logo used to identify product/service firm. Royalty: fee paid periodically to compensate a licensor for temporary use of their intellectual property based on percentage of gross sales generated from use of licensed asset.
