Globalization has transformed society into a more interconnected and cosmopolitan community. Globalization can have favored the people in developing countries as they can now access goods from abroad easier. This is an incredible advantage because it has helped them to save a significant sum of money. For the developed countries such as the United States of America, globalization has also benefited them because they can be able to make more earnings by selling the exported goods to the developing countries.
According to the notes by Dr Kamil Idris, the former Director General of the World Intellectual Property organization, intellectual property can be significant for the developing countries especially when tale economy into consideration. The growth of the economy is mainly based on information, knowledge as well as ideas. Globalization is the critical aspect when it comes to the growth of export markets. It can result in greater connection and partnership between various countries. It has also helped to increase the size of patent applications that are submitted in the whole world.
Despite the advantages that are associated with globalization in the developing countries, there are also some disadvantages. Globalization has posed various challenges for the countries that are after operating in the current international economy. Transfer of intellectual properties between countries can be problematic.
The issues that come with results due to intellectual property following globalization incorporates legal pitfalls that lead to patents theft as well as other trade secrets in the technologically advancing world. This is because the countries that have an uneven distribution of technical expertise are after working in support of the tech sphere.
A good example of the disadvantage of globalization is the growth of intellectual between the United States of America and China. The two countries have recently been in severe disputes regarding intellectual properties.
In the recent past, China received an accusation of stealing patents and other information from the secrets of American technology firms. The Trump Administration made this accusation. Recently, Trump blocked China from buying telecommunications company Qualcomm. This is mainly because such acquisition by the Chinese government would create access to the secrets of the American Technology available to the Chinese.
Kamil Idris affirmed that Law Blog on IP Laws may be the best solution for Intellectual theft issue.