These are the following: (1) the local people should be properly educated. Those involved in policy making must educate the nonstakeholders about the system of intellectual property. The policymakers must be able to make the people understand what intellectual property rights are and how these are being protected. At the same time, they must be able to understand the need why these rights should be protected. Also, the policymakers should also show the nonstakeholders the benefits of the protection of intellectual property and how protecting these could keep them from harm.
(2) Stakeholders must be created. Policymakers should be able to help local people develop a stake in the system for them to understand how they can protect their products and at the same time, receive royalties. An example of this would be the development of the non stakeholders of a local pharmaceutical industry. As a result, they are now transformed into stakeholders who could actively participate in the trade, and at the same time, understand what IPR protection is all about.
(3) Enforcement Mechanisms must be strengthened. Those concerned with the making of policy must be able to develop intellectual property laws and at the same time strengthen the ways by which these could be enforced. Recently, more and more countries are adopting competent intellectual property laws which comply with international standards. However, not all of these countries have a strong way of enforcing their laws. As a result, policymakers must be able to develop mechanisms to develop effective enforcement of laws.
(4) Honest alternatives must be developed. Policymakers, especially those in the industries where IPR infringement is common must be able to develop alternatives if the demand for a certain product is very high yet unaffordable. An example of this would be the provision of bargain-priced audiovisual products that could be either dubbed in the local language or added with foreign-language subtitles. On the other hand, these products must be an affordable alternative that would accommodate the needs of the local people.
Intellectual property piracy and counterfeiting is definitely a major global problem nowadays and must be addressed as soon as possible. With the coming of the internet and the advancement being made in communications, the problem looks like it is getting worse. As a matter of fact, these technologies are bringing more serious problems to the different countries around the world. As a result, China must be able to address their problems in an effective manner and at the same time be cautious in remembering that technologies nowadays are no longer as simple as they used to.
They must be able to understand the complexities and sophistication of such in order to develop the right strategies and tactics in their battle against piracy and the infringement of intellectual property rights. Intellectual Property Rights infringement is a serious problem for all the countries in the world. More and more businesses are being affected due to the billions of losses they face due to the unfair competition brought about by the presence of counterfeit products.
At the same time, the presence of these products is also compromising the health and safety of all the citizens in the world. Often times, they no longer know whether what they are buying is authentic or not. As a student of Economics, the resolution of this problem is highly recommended, especially in the People’s Republic of China which is considered to be where almost all counterfeit products are coming from. First and foremost, it must be able to strengthen its laws and regulations.
It is only through this that they will be able to achieve grounds by which IPR infringement cases would be investigated, prosecuted and imposed. At the same time, this would also establish IPR as a criminal case. Through this, counterfeiters will be aware of the punishment entailed of their actions. At the same time, this would also strengthen administrative sanctions as new regulations would be introduced, thus imposing fines upon the violators of the IPR or those who are involved in IPR infringement.
At the same time, this could help out in making the conditions upon which sanctions would be imposed. Finally, this could help out in referring cases for criminal prosecution. In doing this, the confiscation of and destruction of counterfeit products shall be provided for, together with the equipment used for the production and packaging of these counterfeit goods. As to the economic aspects, the following are recommended to effectively carry out the battle against counterfeit products.
First of all, the capitalization requirements must not be too stiff to facilitate the opening of new businesses. Insurance and telecommunications must be given importance. With regard to insurance, China should continue its efforts in minimizing the capitalization requirements for the establishment of new businesses and branching in order to place them on the same pedestal as those that are abiding by international norms.