XYZ (Pvt) Ltd Case Study - Essay Example

?Marketing: Case Study Introduction New fields of excellence are being identified by the aspirants of different knowledge areas across the globe according to the changing technological standards and fluctuating demand-utility curves of every product in the market. Sometimes a product with potential market credit may be traced and copied by competitors without the authorization of the original makers. In such cases, the need for obtaining registered identity recognition becomes essential for the safety of the developer’s innovative ideas. This protection is guaranteed by the attachment of each new endeavor to the provision of laws under Intellectual Rights. In the wake of the emerging of animated ideas by way of information technology driven computer science field, the affiliation of an inventor to the authorities of Intellectual Property Rights is highly recommendable. In the case study here, the invention of virtual scanner software for apparel matching code is considered for a detailed study of different features of legal, commercial and technical elements associated with the registration of the intellectual property standing as the platform for this achievement. The Scenario XYZ (Pvt) Ltd is a noted producer of internet shopping software solutions. In an inspired move to develop a computer program rather innovatively, Aimee, an employee of the company, designs a software product for the customer relief. The software is meant for the operation of a device that virtually scans the specific body shape of customers; upload it on the computer to develop a display of the image to find if a particular outfit matches with the physical properties of the customers. The company is all set to appreciate the developer and modify the required fields to make the software ready for marketing. They find a name, “Virtual Me” with a tagline, “Virtual Me for Online Therapy” for the broadcast of the product’s advertisement on television, radio and internet advertisement campaigns. The new challenge is the security of the product’s uniqueness in the market in a condition where it has not been registered under the governing laws to protect the right to intellectual property of the developer. Notwithstanding the potential threats of their ideas being copied or the product being imitated at the market level, the company maintains a calm approach towards registration proceedings. According to the company’s view, there are many basic aspects to be referred and people to be approached before the actual proceedings begin. At this juncture, the management can be advised by every aspect that they see the name and the knowhow are protected from being used by others. Since the scope of the scope of the product is promising and profitable in the long run and also while considering its unprecedented features, there seems every chance of this product getting a hit on the sales chart shortly. Taking into account all the possible features and benefits of getting the brand name and the patent registered, there needs a detailed study in this regard while it is strongly recommended that the company go with legal validation of their legally entitled right over this particular piece of intellectual property of Mr. Aimee. The finding Trademark registration and patent authorization come under way to defend the strength of the original makers of any product involving the investment of intellectual components. The very fact that the commercial world today has gained a saleable value for almost every human effort much to the relief of creative art lying in scientific development. A performer with a commercial intent, an artist with a monitory objective, or an organizer or producer of such events all come under the stakeholders of this wide web of intellectual property rights. In the absence of this right or the laws that enforce it and secure the creative achievers, the word business would not have its face today. According to certain clear information, patent of ownership of the intellectual property and its use can be protected by seeking the enforcement of law for prescribed period of years during which the original maker reserves all the rights on the technical knowhow of the product along with the distinctive right to select the users of the patent and also control its commercial use1. The absence of a particular authority supported by the law of the land will be potentially weak against the business security of the developer firm. That every company needs to maintain its product development and launch pad details confidential is the pivotal aspect of the strategic management of every business organization. The enlarged fields of multinational companies and their associate manufacturing firms in local sectors all have a stake in the prosperity of the future business of the organization. Moreover, the laxity of the producer firms can have a disguised promotional effect on the intellectual property theft. According to sources, seizure rate of infringing goods is on the raise in the developed economies; besides, the illegal transfer of informative data becomes easier with the development of internet and other sophisticated transport channels2. It is never amazing to advise someone to protect his product from the commercial angle any more in the present world, because the producer as well as the promoter of a new product is entitled to enjoy their own rights with a part of social responsibility to secure the customers from being made the targets of substandard supply by the distributors. According to the recommendations of the World Trade Organization (WTO) under the resolution called Trade Related Aspects of Intellectual Property Rights (TRIPS) of the Uruguay Round (1986-94), the prominence of ideas and findings of transferable and productive value are all meant to come under commodities of exchange value, and their legal protection enables the producer to gain a reasonable profit for a stipulated period without causing a damage to the market where similar products could be sold under different specifications3. Information on new product designs and the formula of chemical as well as ballistic devices are soft targets of pirates in the international infringement deals. There are various reports that flash lights to the determination of even counterfeit chips and other computer components containing secret information of various companies. At this critical point of time, it is recommended that the customs departments of various countries and the owners of businesses collaborate with proper legal documentation and the use of scientific devices for curbing the global problem of piracy and illegal imitation that affects the income of both the governments and the owners of business4. For instance, a movie making industrial venture, or a book launch etc at private individual areas may be badly hit by the imitations and duplicates in the market. The cost and effort involved in its making goes all meaningless once its theme and the plot get imitated during the production process. There is an equal threat of this concern when the movie or the book is published beyond the channels agreeable to the maker or the author. If the authorization of the product’s original ownership is to be entitled by the company, they must comply with the standardization norms of the intellectual property rights as arranged by the WTO. With a further reading of the guidelines prescribed by the experts, it is evident that M/s XYZ (Pvt) Ltd needs to make a legal cover to protect their interests as a patent reserves the right to operate the idea, technique or design in such a way that they safeguard their business enterprise for a stipulated period of time without the threat of pirates5. If the common say, ‘where there is demand, there is supply’, is a fact, then the company has to be aware of the threats facing its reputation in the form of imitation meant for playing the firm out of the race, because in the field of software, there is tendency to target the goodwill by competitor firms. Moreover, it is not a big deal for the company to file an application with details of the technical specification of the new product with enough evidences to support their claim to having been the first producers of the software. XYZ can recommend Mr. Aimee to approach the regional patent office for applying patent of his invention and at the same time the company can apply for trademark registration with the regional trademark office with all documentation files as required for the registration proceedings. The company can claim on production of evidences of inventive effects of the new software. Conclusion While considering the commercial value of the new product and its innovative effect in a trend setting sales acquisition potential, the stand of the company at the moment is to be diverted and the management needs to be encouraged to file the application for the registration proceedings. When the details of studies on the importance of intellectual property registration as well as the trademark registration from both business and corporate social responsibility angle, the company is bound to ensure that their product is not misconceived by the people in the future course of business. It is also recommended that M/s XYZ endorse with the legal protection of its software in order to boost the morale and dedication of employees of all business where they feel their enterprising skills are recognized and preserved by the owners. Above everything, the little strain the company will have to take during the registration process can prove worthwhile once the product gets a spot in the hit chart of software sales. Bibliography Intellectual property rights (IPR). Web Document. Available at http://www.dcmsme.gov.in/emerge/website_material_on_IPR.pdf [accessed 12 April 2013]. Intellectual Property Rights. Fiscal Year 2012 Seizure Statistics. Available at http://www.cbp.gov/linkhandler/cgov/trade/priority_trade/ipr/ipr_communications/seizure/fy2012_final_stats.ctt/fy2012_final_stats.pdf [accessed 12 April 2013]. US Customs and Boarder Protection. Intellectual Property Rights Enforcement. How Businesses Can Partner with CBP to Protect their Rights. National IPR Coordination Center. Available at http://www.cbp.gov/linkhandler/cgov/trade/priority_trade/ipr/legal/ipr_guide.ctt/ipr_guide.pdf [accessed 13 April 2013]. WIPO. What is intellectual property? Available at http://www.wipo.int/freepublications/en/intproperty/450/wipo_pub_450.pdf [accessed 13 April 2013]. World Trade Organization. Intellectual property: protection and enforcement. Available at http://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm7_e.htm [accessed 13 April 2013]. Read More