Current International Issue Essay
Current International Issue
Patents and copyrights are meant to recognize and protect intellectual properties. They give exclusive rights of claim to individuals and companies, the right to publish manufacture and print materials. Patenting of goods ensure that the force and brains behind a certain invention or artwork gets recognition and earns loyalties for the handiwork. The past few years have seen the world make bold steps towards enacting and enforcing laws on copyrights and patents. The World Trade Organization seeks to see all countries ratify the agreement to protect Intellectual Property Rights.
The biggest force behind this is the United States. This paper focuses on the simmering international row between the United States and China. This case scenario is meant to shed a light on how an international issue and business intersects. How the piracy row between these two countries is having an impact on the business in the various countries. The United States and china are currently at a logger head over what the bush administrations is calling laxity in intellectual property laws (Reuters, 2007) The U. S claims that china is violating the international laws on intellectual property.
The bone of contention lies in the allegation that Chinese companies have been pirating American’s movies and music, while increasingly erecting barriers meant to restrict U. S companies that are dealing with original copies. U. S companies have been loosing billions of loyalties and sales over piracy in china. China’s laws are lax and have not initiated any bold steps for IP protection. Americans multinational are having it rough and have to deal with stringent rules whenever they try to establish businesses in china.
The market there is flooded with pirated and counterfeit goods. Millions in terms of profits are lost. The United States being on the loosing end has lodged its complaints by filing a case with the WTO citing the two complaints against china. They are citing the china’s reluctancy to arrest and prosecute copyrights violators. China, they say, leads the world as far piracy is concerned. The U. S being the home to the biggest multinational companies is the biggest looser in this war (www. nytimes. com)
China on its defence is castigating the U. S decision to initiate the case in WTO. Chinese officials have been quoted as saying they are largely dissatisfied with that decision as it seeks to water down all the efforts that china has stepped up seeking to strengthen IPR (www. thisismoney. co. uk) China claims that over the last years, with international and the U. S insistence it has scaled up its law on piracy. It has invested a lot of finances and manpower. it claims that these efforts are bearing fruits. The U.
S is not satisfied with these rules and claims they are at a superficial level there is no willingness to enforce and implement those laws. This is an example of an international issue that is having an impact on business. The large market base in china is very attractive to large multinational, but many are shunning pitching camp in china for fear of their IPR being violated. The ones already in china are having it rough, they have to complete with pirated and counterfeited goods that have flooded the market.
Reuters, April 2007. china warns U. S piracy case will harm trade ties. China/National. China daily retrieved on 27/09/07 from http://wwwchinadaily. com. cn/china/2007-04/24/content-858458htm Reuters, April 2007. China slams U. S piracy complaints. Companies and markets retrieved on 27/09/07 from http://www. thisismoney. co. uk/investing-and-markets/artical. htm/? in-article-id=4192148in-page-id=3 The Associated press, September 2007. W. T. O opens piracy case. World business briefing. Retrieved on 21/09/07 from http://www. nytimes. com/2007/09/26/business/worldbusiness/26fobriefs-WTOOPENSPIRA-BRF. html? -r=1&oref=slogin