Assume you are the CEO of a new firm that has perfected a package of software applications for medium- and large-sized companies to help manage intellectual property applications (patents, trademarks,...

Dear board of directors,
The package of software applications for medium and large-sized companies has helped many companies to manage intellectual property applications including patents, trademarks, and copyrights. The licenses for the companies in the United States have been sold at $2000 per company. This has been done for more than a year. Shockingly, there are rumours that the software is getting pirated in China. To deal with this irony, here is a plan of action to address this leakage of intellectual property into the Chinese Market .
Creation of IP protection web
It is a legal perspective to protect intellectual property in China. It has to be based on the Strategies for protecting the patent. There is a need for creating an intellectual property protection web. There are three interconnected layers in it (Huang, Geng and Wang, 2017). The important elements of the protection web of intellectual property are strategic clarity, legal fundamentals, business intelligence, stakeholder interest alignment, disaggregation, dynamism, focused corporate social responsibility, strategic Human Resource Management and controls discipline (Fredendall, Letmathe and Uebe-Emden, 2016).
Development of clarity in strategy
There is a strict need for developing clarity in the business strategy. It includes identification of the specified intellectual property that permits the company to carry out the strategic plan designed by it (Peng, Ahlstrom, Carraher and Shi, 2017). The strategic plan of the company must entail contingency processes for guiding the implementation of the plan and management of the plan. It would also require selecting some individuals that would represent the company from China (Fang, Lerner and Wu, 2017). Two factors need to be controlled that is responsible for the leakage of intellectual property. The first case is bringing more than required intellectual property to China and the other reason is sharing the intellectual property more than necessary with the partners. It often happens at the time of discussing business strategy. This should be avoided as one of the initial steps (Wong and Chan, 2016).
Collecting business intelligence
Intelligence here refers to the investigation. The collection of business intelligence of the target market is a very necessary step. It is also important to develop in-depth knowledge about the way a business environment operates in China before making a move to the Chinese business market (Wong and Chan, 2016). The information must be related to developing and understanding the developing and understanding of the choice of location (Huang, Geng and Wang, 2017). The regional differences inside the nation must also be considered to know what opportunities and threats are being offered by each location. It is also important to know the way an intellectual property looks at by the local people and the manner in which the infringement related to intellectual property are business intelligence will also help in making the executive understand local market dynamics, threats related to supply chain, expectations, needs, values, and locations where the protection of intellectual property is effective (Fredendall, Letmathe and Uebe-Emden, 2016). There are different ways for the collection of business intelligence. There can be e in house professional experts so that they can hire the professionals performing outside. It is always recommended to safeguard the intellectual property because it is a very important part of...