Scam # 3 To Avoid in International Business: Putting your Trademark in their Name

There are a lot of global companies that had been a victim of this kind of scam. Companies such as Burger King, Ford, Car & Driver magazine and Reader’s Digest have been once quarried by this technique.

This is how this works: Global companies work with unknown consultants. In this kind of business, it is the consultant’s responsibility to register the company name in behalf of the company. What they do is they will blackmail the parent company by making them buy their name back.

For example, if XYZ firm plans to enter Canada. A Canadian consultant will trademark the name of the firm without XYZ firm’s knowledge. And the firm should pay the consultant to get ehir trademark back.

So this is a warning for all the firms out there to just register their name with consultants whom they could trust. You must protect your name because it has a price when you are in a global setting.

Scam # 2 To Avoid in International Business: Requiring your Intellectual Property to Register

In business, there is always something that serves as your top secret. This is something that will give you an edge above any other businesses in the global market. May it be blueprints if you are into construction business or technical specification if you are into IT business, or it can be a source code for software companies, and ingredients list if you are into food manufacturing.

These are examples of confidential information. Your competitor is just like a roaring lion ready to devour you at any time. If you are not careful with your confidential information, it will be divulged with your competitor and you will soon found yourself left out in the competition.

The common tactic to get the desired information is to pretend that he is a foreign buyer, an agent or even a consultant. You will be asked to register your firm with a government institution and in order to register, you must provide your intellectual property. That’s it, as simple as that.

So this is a call for you to become more wary with your intellectual property. Do not register your company to some third parties which you don’t know well. Only give out your intellectual property to somebody you can trust.