Terms in this set [103]
a work based upon one or more preexisting works, such as a translation, musical arrangement, dramatization, fictionalization, motion picture version, sound recording, art reproduction, abridgment, condensation, or any other form in which a work may be recast, transformed, or adapted; a work consisting of editorial revisions, annotations, elaborations, or other modifications, which, as a whole represent an original work of authorship
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Terms in this set [22]
Cross-border Contractual Relationship
a formal agreement with a partner abroad that usually involves granting the foreign partner authorization to use intellectual property
Types of Intellectual Property
-patents
-trademarks
-copyrights
Patents
type of intellectual property right that allows an inventor to prevent others from using an invention unless they are authorized and pay the inventor
Trademarks
a type of intellectual property right in the form of a symbol, word, or phrase that is established by use as representing a company or product
Copyrights
a type of intellectual property in the form of an exclusive legal right given to the creator or assignee to publish, print, perform, film, or record material
Intellectual Property Rights
claims through which their proprietary assets are protected from unauthorized entities using them
Licensing Agreement
an owner of intellectual property allows another party to use their property for a determined period of time in exchange for some kind of compensation [royalties]
Licensing Protocols
-licensee agrees to pay for the licensor's costs of transferring the property over
-after licensee is granted permission, it pays a royalty on gross sales generated from the
asset
Licensing Agreement Types
-trademark licensing
-copyright licensing
-know-how licensing
Trademark Licensing
an owner lets another entity use its proprietary symbols and words for a certain period of time in exchange for a royalty
Copyright Licensing
a copyright owner lets another party reproduce, distribute copies or create derivative works of the material the owner created
Know-how Licensing
-the owner can license out his or her knowledge regarding processing, design, or manufacturing
-owner receives a royalty based on the sales generated from the proprietary knowledge
Cross-licensing Agreement
agreement in which both entities grant a license to the other party to use its intellectual property
Advantages of Licensing
-low risk
-not much effort required
-not many resources needed - low cost
Disadvantages of Licensing
-revenue dependent on foreign partner
-low
control over licensed assets
-potential risk for new competitor
Franchising
an entity allows another to use its entire business system in exchange for royalties and fees
Master Franchisor
an independent company that manages the entire franchising network inside a specified market
Advantages of Franchising
-not many resources needed
-can expand quickly to other markets
-low effort after establishment
-can utilize local franchisee knowledge of market
Disadvantages of Franchising
-difficulties in managing numerous franchisees
-low control over franchised assets
-potential risk for new competitor
Turnkey Contracts
-contractor handles every detail of a project for a foreign client
-contractor completes a project that is ready for full operation
-provide a method to earn economic returns by using skills and knowledge that are required to assemble and run a technologically complex process
-less risky than conventional FDI
Management Contracts
contractor supplies the foreign company with managerial knowledge on how to operate a certain business in exchange for some compensation
International Leasing
the lessor rents out some asset to a lessee abroad for a specified duration
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