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E-Business and Intellectual Property

In: Business and Management

Submitted By aaronohammons
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MEMORANDUM
UNIVERSITY OF PHOENIX

DATE: September 21, 2015
TO: Darnell Stroble
FROM: Aaron Hammons
RE: National Crime Prevention Council. (2015). Intellectual property theft: Get real. Retrieved, September 20, 2015, from http://www.ncpc.org/topics/intellectual-property-theft/facts-and-figure
ARTICLE SYNOPSIS America is not only the richest country globally, but also the source of many innovations. The high number of innovations in America makes the country the greatest producer of intellectual property related to patents and copyrights. Intellectual property is very important to the United States because it significantly contributes to the development of national economy. However, inventions in America are facing the challenge of intellectual property theft. In the year 2014, the value of fake products such as electronic equipment, CDs and DVDs was 7 percent of world trade. With the advent of e-commerce, the rate of intellectual property theft has been on the rise. According to the United States Food and Drug Administration, the number of fake pharmaceutical products entering the United States has increased by 90 percent since the year 2005. The nature of impact that intellectual property theft brings to the United States calls for great need of implementing solution strategies (National Crime Prevention Council, 2015).
LEGAL ISSUE Online pharmacies are among the leading organizations in intellectual property theft in the United States. Majority of these companies claim to be located in Canada, and they contribute to more than 50 percent of fake drugs that enter the United States. Intellectual property theft is a very serious crime that is punishable by law (National Crime Prevention Council, 2015).
MANAGERIAL PERSPECTIVE Intellectual property theft hurts United States citizens as well as different businesses. Fake products that are sold online hurt many people, for instance, many people become ill by counterfeit drugs. This prevents customers from purchasing drugs produced by companies whose products have been counterfeited. Intellectual property theft is unethical because it harms health of individuals and infringes in privacy rights of innovators. In order to maximize security of innovated products, innovators who sell products online should report intellectual property theft to Internet Crime Complaint Center (ICCC) (National Crime Prevention Council, 2015).

Reference
National Crime Prevention Council. (2015). Intellectual property theft: Get real. Retrieved, September 20, 2015, from http://www.ncpc.org/topics/intellectual-property-theft/facts-and-figures-1

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