E-Business and Intellectual Property
In
the past few years there have been significant technological
advancements that have transformed how we conduct business. Since we are
moving towards a connected global market, businesses now need to
integrate ways to maximize their chances of success. The Internet must
be used as a marketing tool to reach all areas of the world, including
places that at one point were out of reach. Also, the Internet should be
used as an online market place to sell goods and services to customers.
Essentially, the internet has made it easier to do business with a
wider audience. Unfortunately with vast quantities of business
information being published on the internet, the protection of
intellection property rights (IPR) has been a major concern and
businesses face new challenges in protecting their brand from
unscrupulous competitors [1]
Intellectual property (IP) is a legal
term that refers to industrial property and to copyright and related
rights. Industrial property comprises the protection of patents,
trademarks, industrial designs, and geographical indications. [2] The
law provides a number of mechanisms that protect this valuable
property. Two of the most important mechanisms are patents and
trademarks. Patents protect discoveries and inventions that underlie
the functions of your business. Trademarks protect the words and symbols
that make your business known to the world. [3] These two legal
mechanisms, allow business and individuals to claim to their
intellectual property. They also act as a defense against competitors
trying to make a profit off your hard work and ingenuity.
An e-business is any business that engages in transactions across an electronic network [3].
Such transactions include electronic commerce where payments or fees
are received in exchange for a product or service. E-business is
conducted by companies that exist almost exclusively on the Internet: retailers like Amazon.com, on-line financial brokers like Ameritrade and E-trade, internet service providers like AOL and MSN, and content providers like Yahoo. E-businesses also include companies like Eddie Bauer and L.L. Bean that supplement their retail or catalog sales with online sales.
[3] Protection of intellectual property by e-businesses is critical
because of the great amount of exposure of that this property gets.
After all, the web is available 24 hours a day, seven days a week in
every nation on earth.
E-commerce has
revolutionized the way we do business but there are some hurdles that
businesses need to be aware of. Brands, ideas and designs are now more
exposed and vulnerable than ever before. Anyone with access to the
Internet has access to your products. It has become much easier for
competitors to replicate designs making protection of these products a
top priority. Legal mechanisms are changing however, to keep pace with
these risks. “Patents and trademarks are well-established building
blocks that allow you to erect a barrier around your property to prevent
competitors from trespassing on your rights.” [3]
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