Page 93 - DMGT547_INTERNATIONAL_MARKETING

International Marketing

Notes Copyright: It relates to the rights of creators of literary, scientific and artistic works.
Foreign exchange: It means foreign currency and includes all deposits, credits and balances,
payable in any foreign currency and any drafts, traveller’s cheques, letters of credit and bills of
exchange, expressed or drawn in Indian currency but payable in any foreign currency;
Intellectual property: The intellectual property is the creation of human mind, the human
intellect, hence the designation “Intellectual Property”.
Money laundering: It is one of the serious worldwide menaces that are bothering all countries.
Patents: Patents give exclusive rights to inventors;
Trade mark: It is a sign that serves to distinguish the goods (as does the service mark with regard
to services) of industrial or commercial enterprise from those of other enterprises.

4.8 Review Questions

1. Describe the multiplicity of the legal environment. Distinguish between common law
and statute systems.
2. Give examples of products that cannot be imported into India.
3. Explain how the legal environment has an impact on the MNC’s marketing mix.

4. What is extra-territorial application of law? Why do MNCs prefer to use corporate
subsidiaries in foreign markets?
5. Distinguish among patents, trade mark, copyright, industrial design and infringement.

Answers: Self Assessment

1. Systems 2. Lawsuits

3. National Laws 4. U.S.
5. Patents 6. special 301
7. criminal 8. Standards
9. FATF 10. Bills of Exchange

11. 1947 12. Traveller’s
13. Section 5

4.9 Further Readings

Books Cateora and Graham, International Marketing, McGraw Hill, 2007
Charles W.L. Hill, International Business Competing in the Global Marketplace,
4th Edition, Tata McGraw-Hill Publishing Company Limited
Chase Richard, Jacob Robert, Aquillano and Agarwal Nitin, Operations
Management, 11th Edition, Tata McGraw-Hill Publishing Company Limited

Justin Paul, International Business, 3rd Edition, Prentice Hall of India
Vasudeva, PK, International Marketing, Excel Books, New Delhi, 2010

88 LOVELY PROFESSIONAL UNIVERSITY