Protecting intellectual property 1. Protecting intellectual property in a competitive global business environment can bedifficult. It can also be expensive. Seeking patent protection in the UnitedStates alone can cost businesses thousands of dollars, and that price only goesup when seeking international protection. What factors do you think businessleaders consider when deciding to pursue intellectual property protection? Putyourself in the shoes of an international business executive. What things wouldyou want to know before making such a sizable investment? One or two references– 2 paragraphs2. You are an officer in an American corporation that has asignificant portion of its assets in IPRs. You wish to expand in yourregion. One or two references.Write a brief memo to your boss (1–2 pages double-spaced) that outlines therisks and rewards of licensing your choice of an IPR in that region. Thatchoice could be a trade or service mark, a patent, a copyright, or acombination of them. State what the IPR is. Try to identify the best nation ornations in which to enter the market. Decide if you would use your own employeesor independent agents and why.