The production and trade of goods is a universal business activity that is a major contributor to domestic economies around the world. Goods manufactured for commercial purposes typically involve a significant intellectual investment that can, in some instances, be protected as a form of intellectual property (IP). In this Unit, we explore the ways in which companies deal with intellectual property when doing business in other countries. Specifically, we look at the risks, trends, and mitigation strategies associated with IP protection when developing goods for a global market. The World Trade Organizations Trade Related Aspects of Intellectual Property Rights (TRIPS) agreement enacted in 1995 provides a framework of principles and minimum standards for the protection of IP that governments can model. As a result, many countries now have legislation that protects various forms of intellectual property, such as patents, copyright, trademarks, geographical indications, industrial design, and trade secrets. The purpose of using any of the IP protection mechanisms is to prevent competitors from selling the same or a similar product. Without this protection, competitors could reap the benefit of a companys investment, inventions or creations, and the associated branding that has launched a successful product in the domestic marketplace. IP protection is therefore a critical tool that can help companies protect their investments and maintain a competitive advantage. Organizations involved in international trade in any capacity must ensure they identify and protect the IP that underpins their competitive advantage. To do so, they must research and understand the IP protection environment in each country and determine if IP protection is viable. If their IP can be protected and is worth protecting, they will need to do due diligence to properly assess the costs and risks to their IP before entering a market. Ultimately, they will need to select a method of protection, monitor the use of their IP, ensure proper contractual agreements are in place, and obtain qualified legal advice. The viability and success of any exported product is usually based on some sort of competitive advantage or unique product characteristics that are not available in local markets. Companies that rely on IP protection are therefore particularly vulnerable and need to make sure they dont inadvertently lose control of their IP to foreign suppliers or local competitors in foreign markets. In this Unit, we will review the issues involved in IP protection and the ways in which this can be accomplished. Why is it relevant? Where/how would we implement?