An international trade specialist, Heuda Farsh Guessous, has advocated the need to secure intellectual property rights in the international markets to prevent third parties from exploiting the rights.
Farsh-Guessous, who is the chief executive officer of the Creative Consulting Group and co-founder of the Foodshow, said this while speaking on a topic “Ensuring a Market Access in a globalized world” at a four-day summit organised by Lifesquare Leadership Initiative, held in Marrakech, Morocco.
The International trade specialist noted that many companies breaking into the international market underestimated the barrier posed by cultural differences.
In order to cope with the differences, she stressed the need to adapt to the products to gain access to the market, adding that for them to access the markets, they must constantly adapt to the cultural differences.
According to her, “there is need to secure intellectual property rights in these markets, you have to prevent third parties in those markets from exploiting your intellectual property rights, which will encourage them to work with you under a licensing or similar arrangement.”
Speaking on “strategies to manage the effect of globalization”, Farsh-Guessous said, “some academics say globalization must foster equitable growth, social inclusion and environmental sustainability.
“Others resist globalization to maintain local countries, communities and values. The future of globalization depends on how society and authorities respond to its difficulties and opportunities.”
While globalisation can neither be stopped nor reversed, the international trade specialist canvassed the need for nations to mould or direct it to benefit human wellbeing and planetary health.
She added that globalisation policies tend to be advantageous to companies that have the resources and infrastructure to operate their supply chains or distribution in many different countries notwithstanding their implications on the survival of small local businesses.
In her remarks, the managing director, Lifesquare Leadership Initiative, Dr Susan Ake, said the summit was apt and timely, considering the dimensions of globalization in today’s world which are far-reaching, influencing every aspect of lives, from the economy to technology, culture to security, and beyond.
Ake said, “As we convene in this esteemed gathering, we are not merely participants in a summit; we are collaborators in a global conversation, seeking to understand, navigate, and shape the future of our interconnected world.”
