Test 2 Study Guide

Test 2 Study Guide - Chapter 7 I Global Perspective Pajama...

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Chapter 7 I. Global Perspective – Pajama Caper (p.181) – Wal-Mart was selling Cuban made pajamas in Canada. It is against US law for a US company or any of its foreign subsidiaries to trade with Cuba. II. Jurisdiction (p.186-187) a. No international court of commerce b. Which law governs? i. Jurisdiction clauses included in contracts ii. Where the contract was entered into iii. Where the provisions of the contract were performed c. Crossing borders 7.2 (p.188) – dispute over who can use the names Budweiser and Bud. In the Czech Republic a state owned brewery Budejovicky Budvar N.P. has the right while in the US Anheuser-Bush does. Different rulings in different countries. III. Protect Intellectual Property Rights (p.191-198) a. Counterfeiting and Piracy i. Crossing Borders 7.3 (p.192) – examples of trademarks, brand names, designs, manufacturing processes, and formulas that are knocked off in China 1. Design rip-offs estimates that nearly 7 million of 11 million motorcycles and scooters produced in china were copies bearing the Yamaha name 2. Product rip-offs – exact copies of products flood the market 3. Brand name rip-offs – products bearing similar names (ex. Ray Bans becomes Ran Bans) 4. Book rip-offs - illegal copies of popular books flood the market 5. In an attempt to control counterfeits, china passed laws that allow customers to demand a double refund for fake merchandise sold in department stores ii. Piracy Rates Exhibit 7.2 (193) – piracy rates for computer software, top and bottom 20 1. Highest – Vietnam, Ukraine, China, Zimbabwe 2. Lowest – Unites State, New Zealand, Austria, Sweden b. Inadequate Protection the failure to protect intellectual property rights adequately in the world marketplace can lead to the legal loss of rights in potentially profitable markets. There have been many cases where companies have legally lost the rights to trademarks and have had to buy back these rights or pay royalties for their use. i. Important to realize that some countries do not follow the common-law principle that ownership is established by prior use or that registration and ownership in one country does not necessarily mean ownership in another. 1
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c. Prior use vs. registration (I/We p.197) i. I = prior use 1. In order to receive intellectual property protection you must establish first use to prove that you own it 2. Rewarding individual is more important than the group. You can keep it private or make it public ii. We = registration 1. In order to receive ownership rights you must go down to the registration office and submit it. Must register it!! Then becomes public information. 2. Once it becomes public information you can use it d. International Conventions i. WIPO World Intellectual Property Organization – Responsible for the promotion of the protection of intellectual property and for the administration of the various multilateral treaties through cooperation among its member states. (part of the United Nations) ii. PCT Patent Cooperation Treaty – Facilitates the process for application for patents among its member countries.
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