Canadian Business Structure

RUNNING HEAD: CANADIAN BUSINESS STRUCTURE
Canadian Business Structure

CANADIAN BUSINESS STRUCTURE
Time and money are two most valuable resources for any small business owners. That is why
many holders operate in the opposite direction when the topic of the intellectual property arises.
Intellectual property rights (IPR) means assignment of property rights by patents, copyrights, and
trademark (Peng, 2013). These property rights enable the owner to practice for a defined duration
a monopoly on the use of the product. While it is hard to determine the precise magnitude and
range of the issue, all indications are that copyright piracy, counterfeiting of trademarks and
patent infringement have become major issues in the company sector in particular including
small business. Any small business that sells its IP-protected products abroad or supplies its
product or components abroad must take into consideration that in many countries the potential
for widespread IP theft.
The issue is the increase of rivalry on the internet and the worldwide comprehension of
intellectual property for small business owners is more critical than ever. For instance, the chief
executive of Kind Snacks i.e. Mr. Daniels had high expectations when he and his business visited
natural product expo west in California and who would blame him for the fact that his Kind Plus
Beer was recognized as finest new product at the expo east previous year. However, it was not
long before Mr. Daniels realized that something was incorrect. He continued hearing how his
rivals had imitative the wrapping look and how his bar has been reproduced. Fortunately, for Mr.
Daniel, after establishing his business, he obtained key components of intellectual property such
as trademarks, trade dress and web addresses. Just like a patent that can cost up to $ 25000 to
protect trademarks and web addresses, it is possible to obtain comparatively cheaply and without
the assistance of advocate. With the legal paperwork to back up his intellectual property rights,
Daniel sent a letter of cessation and dismissal to the offending company that achieved the
required result.
Every country has its own intellectual property laws. There are also various regulations in
Canada for the registration of trademark, patents, and copyrights. The regulation of the
exploitation of IPR in Canada is governed by Canadian Intellectual Property Law (Mckeown,
2010). These registrations provide company safety with respect to their intellectual properties not
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