Explain why you agree or disagree with this statement using supporting facts information and examples from several sources to support your position
I disagree with the statement, no business can thrive without protecting its business products or inventions; thus, intellectual property right is essential in any business venture. Our textbook Cleary, explains that in both Canada and other states, it is not a must that a small business venture gets to be involved in too many activities like securing intellectual property rights. Business intellectual properties can be said to be the fundamental rights that are used in business planning to make sure that the firm has protected its business idea from other units.
Regardless of the size of the business intellectual properties rights plays a significant role in the business, which means that those operating both large and small business ventures respect intellectual property rights. One can ask why small business should show intellectual business properties, and it is essential to know that every business wants to be unique and innovative; this does not focus on the size of the company but the company itself and individuality (Lanjouw & Lerner, 2000).). For instance, a business that does not have intellectual property, then it will be less competitive in the market due to a lack of innovation and better business ideas and marketing strategies. Although a business could take some time while doing the intellectual property rights in planning, it is worth noting that intellectual property rights lay the foundation for the company and makes the company safer and highly competitive as well as being unique.
To most of the business people running small business ventures intellectual property rights seems to be tiresome ,consuming some time and resources this means that the business owner will need to hire a lawyer in order to apply for intellectual property rights, this is the point whereby some of the small business owners think that it is wastage of resource and time they should be busy doing the business’ support intellectual property right is very important as it is a way of getting out company secured ,it doesn’t matter the size of the business people should understand that applying the intellectual rights in business makes their business products unique since they will have products that are different from others in the market, this helps the business venture in coming up with their trademarks in the market (Coriat & Orsi, 2002).Regrettably, people without intellectual property rights will not be able to have a trademark in the market and may replicating products that are still in the market meaning that the chance of getting new clients will be minimal. I, therefore, like the idea of applying intellectual properties in the business because this will enable the company to develop its slogan, sound and color that is unique from others.
A business can get intellectual property rights like copyright which protects its product from being duplicated and prolongs its uniqueness in the market as it will protect all tangible products, like movies, books, among other products(Lanjouw & Lerner ,2000).Generally I hope you also believe that intellectual property rights are must to any business venture and no blame should be placed towards them, no time wastage and no resource wastage, small bines have a dream to be expanded and get big, so no one should ignore or escaper from the property intellectual rights and all business organization should actually apply Ip rights to be more secure and unique in the market.