MANAGEMENT AND STRATEGY OF INTELLECTUAL
PROPERTY RIGHT
Introduction
Globalization is seen as offering more opportunity for both developed and developing nations. The developed countries can obtain huge marketplace for their surplus producing power by selling goods, transferring their technology and receiving high return and by acquiring equity in foreign firms by acquisition and setting up joint ventures. The developing countries can acquire advanced technology and knowledge by opening their market, provide human resources, raw material and in return provide employment to their citizens, and expand their economic return. Therefore, technology management and sound technology transfer in the international collaboration endeavors seem evident. As both transferor and transferee realize that it is the core technology that delivers the sustainable competitive advantage, therefore the channels of technology transfer has always been intentionally blocked.
However, it has been widely recognized that appropriate IP management and strategy could be strategic instrument in unblocking technology transfer channels and boosting science and technology innovation. IP strategy is the key in ensuring smooth technology and knowledge transfer. It assumes great importance in the ability of countries, companies and individual to embrace technological strategies and changes in order to advance their competitive advantages in a global marketplace (Li-Hua, 2006, 2008, 2007). There is no doubt that appropriate IP strategy represents a solid foundation on which the knowledge economy can be built. It leverages the economic growth and development in both developed and developing world. It charts the strategic and operational guidance to economic development not only for the developing countries but also for the advanced and developed countries.
Recent legal developments on intellectual property right (IPR)
Patenting is no longer an administrative burden or a peripheral concern...