Question

Examine, in detail, the concept of intellectual property in international marketing. How can marketing rules impact the international marketing? Justify your answers through related examples. [15 Marks] LO3.

Answer 1

Ans. Intellectual property is basically that type of category of property which includes all the intangible creation of human intelligence.

it includes the patent right, the copyrights, trademarks and the trade secrets.

Intellectual property is totally based on a person to person and if value observation is totally based on the quality of a person who created an innovative idea which solely depends on the intelligence of that person and that's why the person is the owner of this creative idea.

In the international market, the presence of international property is very effective because the international market is basically the market of creativity and innovation.

All the Global consumers are always looking for some innovative product which is highly useful in their day to day life therefore the international market is a major market of intellectual property.

Marketing rules impact international marketing in such a way that the pricing strategies and the quantitative measurement and the enhancement of quality production of the goods are totally based on the current factors and extreme research of the estimated sale of the product.

The best example is the patent right of Apple company because this is the most innovative idea to give an Ultimate product to the whole Nation and afterwards to the whole world.

The space project of Elon Musk is also a creative idea and one of the best examples of intellectual property.