More and more Japanese businesses are looking for new opportunities in developing countries where growth is expected, shifting their sights away from the developed countries where economic growth has slacked off. The developing countries of Brazil, Russia, India, and China (collectively called BRICs), all with vast territories, rich natural resources, and great populations, as well as countries said to follow them in potential--Vietnam, Indonesia, South Africa, Turkey, and Argentina (collectively called VISTA)--are attracting attention.
Acquiring intellectual property rights in developed countries remains important. However, protection of intellectual property in the developing countries will be another important matter in the future.
- So why will protection of intellectual property in the developing countries become an important matter?
The countries that are called “developing countries” currently have higher economic growth rates than the developed countries at all levels. Therefore, domestic consumption will increase in these countries, and the income levels of their citizenry are expected to soar. Hence, in developing countries with large populations, the population sector with comparatively high incomes will sharply increase. (The 2.7 billion citizens of the four BRICs countries comprise 45% of the world’s population.) Giant markets will be born, giving great business opportunities to the developed countries. Furthermore, sometime in the future, these developing countries’ currencies will probably grow stronger as their economies develop (stated differently, the Japanese Yen will lose relative value). In this case, developed countries would be able to profit even more.
Many businesses, domestic and international, will enter these attractive markets. In such markets, successful products will almost certainly invite imitations by third parties, and the original products will lose their competitive edge to a stream of cheap products.
Protection of intellectual property will be of great importance. By acquiring patent rights to methods and products based on excellent inventions and design rights for excellent designs in those countries, businesses can gain exclusive rights and remain competitive in the attractive markets. Also, by acquiring trademark rights for names of their companies and goods, which embody the trust placed in their work, they can use those names exclusively in such countries and receive protection from imitations. If a business gets the country’s justice system to recognize violations of its rights, it can receive injunctive relief against the infringer through the country’s state power and the may sue for compensatory damages.
Our office supports establishment of rights in developing countries that have significant economic growth through our experience and know-how, cultivated over many years, and a global network of patent attorneys and lawyers. If you are thinking about applying for foreign intellectual property rights, please actively consider applying in developing countries, as well.
2. Information on Developing Countries
[ BRICs ]
[ VISTA ]
[ NEXT11 ]
[ GCC ]
[ OTHERS ]