Question

Answer the following questions with references and citations.

1. Explain, with the use of examples, when it would be appropriate to use trademarks and copyright to protect a firm’s intellectual property. Other than through the use of patents and copyright, how can a firm prevent its competencies from being imitated?

2. How can late entrants win the innovation race? Please give two examples.

3. Considering the case study, discuss some of the wider strategic reasons why firms may wish to enter a strategic alliance. What are some of the risks involved?

Answer 1

Q1. Copyright is a form of protection provided to the authors of “original works of authorship” including literary, dramatic, musical, artistic, and certain other intellectual works, both published and unpublished. The copyright protects the form of expression rather than the subject matter of the writing

A trademark is a word, name, symbol or device which is used in trade with goods to indicate the source of the goods and to distinguish them from the goods of others.

Other than Copyrights and Trademark, Patents and trade secrets can also be used to protect IPR.

Q2. It is very intriguing to find that late entrants have their own strategies to win in the innovation race. Strategic planning involves improving operational efficiency and scouting for opportunities to build new markets and grow domestic markets. It can be done by,

• Adopt distinctive positioning and marketing strategies.
• Take advantage of the complacency of the pioneers
• Attempt to leverage the inability of pioneers to cater to growing or shifting demands of the marketplace
• Explore innovative ways to market their product or service
• Have a thorough understanding of entry and defensive strategies
• Have a good sense of timing
• Understand the weaknesses of competitors better than the latter

(How can late entrants win in the innovation race? By Venkatesh Ganapathy)

Henricks (2009) cites several companies that benefitted from second-mover advantage. For example, Voodoo Tiki Tequila challenged the category market leader, Patron Spirits Company in the high-end tequila market segment. Patron’s strategy was based on educating and convincing consumers to switch from drinking vodka to instead drinking tequila. r. As a second-mover, they did not have to spend the time, effort, and money instructing consumers about their brand because product leader Patron had already educated consumers and helped make tequila a popular alcoholic beverage.

Henricks (2009) points to examples including Southwest Airlines, which studied and improved upon products/services of pioneer companies within the airlines’ economy segment. Likewise, Google leveraged the experience of other search engine providers (e.g., Lycos and WebCrawler) to become the dominant internet search engine.

Q3. Case study not given. I will be happy to answer if you provide me the case study.

References:

https://lawmart.com/copyright-vs-trademark-vs-patent/

https://www.upcounsel.com/intellectual-property-protection