Tangible property and intellectual property

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Abstract

The automotive industry in the United States is facing many challenges including risks in both tangible property and intellectual property. The managers within the automotive industry have decided to unite and enforce intellectual property rights across the world. Other than that, the same managers have to take their responsibilities in ensuring that the intellectual properties of their organizations are protected and protect other organizations/companies from violating intellectual property rights of others.

Introduction

There are many risks that arise in both tangible and intellectual property of the automobile industry in the United States of America. This is a mere outside incident that the United States automotive industry can come with a viable solution to prevent auto theft - the tangible part. However, it would be sophisticated due to the fact that it would be very expensive, but the industry would not also be willing to spend much in doing so for fear of reducing the sale of individual buying cars (Andrzej, 2005).

This would be an interest that is corporate. It is very unfortunate that when ones car is stolen, one will try as much as they can to purchase another car thus reducing the economy in the automotive industry. Tangible property is that property that can be seen and touched (Rosenberg, 2004).

According to Walter (1992), in the automobile industry, for example, this tangible property would include: television for customers to watch, a waiting room soda machine, rubber, steel, laser printers, desks, vehicle manufacturing equipment, buildings, robotic arms carbon fiber, plastics, aluminum, computers among many others. Other than that, industries also comprises of personal property interests in inventory form or the manufactured goods they intend to sell to customers. If an organization is renting properties that are tangible to others, then it should have a maintenance plan which is regularly scheduled.

Examples of intellectual properties in an automotive industry/organization include copyrights, trade marks, trade secrets service marks as well as patents. Generally, trade marks are used by companies to distinguish their goods and/or services from those of other companies. Patents are usually new and very important processes that the automotive companies apply in electronic-commerce. Copyrights indicate the originality of authorship and are usually used in protection of web site contents while trade secrets comprises of information that avails the managers with a competitive advantage within the industry and are usually preserved to deter their competitors from discovering them (Marcus, 2006).

Intellectual property violations

Protection of intellectual property has for quite some time been an international policy concern. Owners as well as managers of intellectual property face risks of piracy or imitation in many organizations including the automotive industry of the United States.

The risks arising in intellectual property practically across all automotive industries are on the increase. According to World Customs Organization, global trade on goods that are illegitimate exceeds $600 billion. With the current increase in job losses, sales around as well as consumer safety, the managers of the industry have decided to cooperate in order to demand more forceful enforcement of intellectual property rights around the globe.

As Leif (2008) asserts, the automotive industry of the United States has found appropriate fake parts that can be used to make a full car, including brakes forged from wood and compressed gas sold in the country's stores.

Protection actions

The actions that should be taken by a manager to identify as well as protect intellectual properties of an organization are; to ensure that all the employees within the organization strictly follows all the compliance procedures, be in a position to know and identify all the organization's intellectual property; provide opportunities for educating and training employees who work in the information technology department as well as other related departments such as customer and sales department of new standards and procedures to persistently detect and respond to any arising issues; promote public awareness of purchasing genuine goods (King, 2003).

Protection for others

The managers in the automotive industry of the United States should take the following actions to identify and protect other organizations/companies from violating others' intellectual property rights. They should: kick off the use of nom competitive as well as nondisclosure agreements; hire appropriate legal counsel and specialists to preserve legal and ethical standards of intellectual property rights; frequently provide trade mark patent and copyright to all potential staff, management and vendors within the organization. This is because patent protection has long-term benefits to any company as it limits piracy and imitation (Walter 1992).

Conclusion

The risks arising in both tangible and intellectual property are many. As it is discussed in the paper, tangible properties are those that can be touched and felt while intellectual property includes things like patents, copyrights and trademarks. The paper also discusses what the managers should do to protect intellectual properties of their organizations and also to protect other organizations/companies from violating others' intellectual property rights.

References

  • Andrzej, G: (2005). The Ethics of Intellectual Property Rights in Automotive industry: An Introduction. Engineering Ethics 11 (1).
  • King, K: (2003) The Value of Intellectual Property retrieved from http://www.wipo.int/services/en/ on 08-02-2010
  • Leif, W: (2008). Property Rights and the Resource Curse: Philosophy and Public Affairs 26 (2):2-32.
  • Marcus J: (2006) Tangible property and intellectual property in automotive industry: Oxford University Press
  • Rosenberg, A: (2004).A study On Priority of Intellectual Property Rights; especially in automotives and Economics 3 (1).
  • Walter G. (1992) Intellectual property rights and economic growth: retrieved from http://www.questia.com/browse on o8-02-2010

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