Expanding into new territory is an exciting venture, but not without its risks. Before consideration of globalization, you should have a trustworthy International Attorney on retainer to ensure smooth transition. In partnership with your attorney, there are three critical points of action that will help you to avoid any catastrophes in the process…
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In your application, you are able to directly designate the countries in which you'd like your Trademark to be protected. You can designate any number of countries as long as they're a member of the Madrid System. The registration for international Trademarks will last for 10 years and all associated fees are paid to the WIPO.
Like any nearly "perfect" system - the System has its flaws - namely that all nations globally are not a member of the Madrid Agreement. The benefits far outweigh the disadvantages by far. Even in the event you wish to register in a country singularly that is not included- you're able to file one application for many other countries in bulk.
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January 15th, the United States and China signed a Phase 1 Deal, but a lot of people are concerned about what it will mean for international traders in both countries. According to the National Law Review, the existing Tariffs for goods on List 4A would be reduced from 15% to a mere 7.5% by Valentine’s Day.
China, too, has imposed some tariffs - but there is no information thus far on exactly when this will happen - though it is said to be a necessity.
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We have discussed the social and cultural Factors before, but make sure you know what the literacy rate is and the average educational level in the country? If you are selling to or your product is designed for the middle class, make sure there actually is a middle class that would support your product?
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Culture is very important in business and has an impact on the strategic direction of business. Culture influences management, decisions and all business functions from accounting to production. Don’t just think in terms of the national culture but also in business think of meetings, negotiation, formalities, social media use, internships and work placements hierarchy.
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When I think of how to begin the negotiation of a contract in a different culture, I first want to make sure that I know something about the culture. Generally, how 85% of the people act, think, and behave. "What is important to them? " I ask myself. Inevitably, I read about the culture, the history, talk to people who have done business in the culture and most definitely go to visit the place when possible.
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