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Intellectual Property Rights Protection in China - Research Paper Example

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With the globalization of the world economy and the emergence of China and India as the primary consumer hubs capable of consuming respectable amounts of goods and technologies created by the Western firms, sanctity of intellectual property rights in countries like China is one major constraint that is demoralizing the MNCs hailing from The West as well as Asia (Cheung 4)…
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Intellectual Property Rights Protection in China
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of the of the Concerned 12 January Intellectual Property Rights Protection inChina
With the globalization of the world economy and the emergence of China and India as the primary consumer hubs capable of consuming respectable amounts of goods and technologies created by the Western firms, sanctity of intellectual property rights in countries like China is one major constraint that is demoralizing the MNCs hailing from The West as well as Asia (Cheung 4). Yet, it is a pragmatic fact that all stand to gain, including China, if it abides by the international desire for respecting intellectual property rights.
The Asian giant like China well understands that foreign direct investments in its economy and infrastructure are utterly propitious for its skilled labor market and its booming economy hungry for latest technologies. Yet, it is also a fact that resource rich and technology intensive MNCs can only wholeheartedly commit themselves to their Chinese ventures, only if they are sure that their massive investments in the intellectual property will not be diluted in China owing to a scant regard and concern for intellectual property rights (Ordish 27). Thus upholding of the intellectual property rights in China is synonymous with creating just the right kind of business and investment environment.
A section of the Chinese intelligentsia holds that intellectual property rights is a legal tool devised by the West to counteract the rising might and potential of the Chinese scientists and experts (Mertha 42). What China needs to understand is that the stakes exploiting the intellectual property related loopholes within China can also resort to the similar mechanisms and stratagems to undermine the indigenous intellectual property wealth. Thus a potent intellectual property rights regime will guarantee the security of both the Western and Chinese intellectual property related investments, and will definitely prove to be beneficial for China in the long run.
There is no denying the fact that a developing nation like China has a big population, and the state is committed to extend a high quality of life to its citizens. This goal cannot be achieved, be it in the realm of food self sufficiency or health, without the commitment of associated Western pharmaceutical and biotechnology firms. Yet, it is the intellectual property related concerns which are making these firms to shy away from China.
China is a strong and respectable nation that is at present trying its best to bolster the brand 'Made in China (Armbrecht: Online). However, the consumer base in the West can never ever trust the credibility and validity of Chinese made products, until they are not sure that they are designed and manufactured in compliance with the intellectual property laws and statutes. Hence, China can profit from intellectual property rights protection, as it will strengthen the credibility of the products and technologies created and manufactured in China.
Therefore, it is a myth that intellectual property laws only intend to benefit the developed nations. Emerging economies can certainly bolster the respect for their products and technologies in the international market by evincing a strong commitment for intellectual property rights protection.
Total Words: 510 (two pages)
References
Armbrecht, FMR. "Created in China "should speed its respect for IP rights. Research
Technology Management. 2005. HighBeam Research. 12 Feb. 2010 Cheung, Gordon CK. Intellectual Property Rights in China. Routledge: London, 2009.
Mertha, AC. The Politics of Piracy. Cornell University Press: New York, 2007.
Ordish, Rebecca. China Intellectual Property: Challenges and Solutions. Wiley: New York,
2008. Read More
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