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Discussion

When everyone starts to notice intellectual property rights, they see it everywhere

starting from ventures, businesses, any kind of industries, and others. Trademarks are one of

the prime examples that supports the brands to stay protected from theft and other such

challenges (Chirico et al., 2020). Sneakers are a good example of trademark intellectual

property. As far as sneakers are concerned these are the symbols through which a customer

can recognize and then finally can associate with that brand. Other than the use of the patents

and copyright having a closed innovation, trademark, non-disclosure contracts and others are

some of the ways to protect the competencies from being imitated.

For winning a late innovation race the entrants that have entered late have to find a

weak spot through which they can use that spot as an opportunity and help the market to

grow the market in full potential. They can also take the help of operational strategies through

which they can enlighten the efficiency of the late entrants in the market. A disadvantage that

the late entrants have is hitting the market in the first place with the products and services

they have with them (Pereira et al., 2020). For example, Google was not the first search

engine as it was introduced in 1998 and other search engines came before Google such as

Yahoo in 1995. Another example would be Facebook which was late to social networking as

well as Google. Before Facebook people uses Myspace in 2003.

The reasons why the firms wish to enter the strategic alliance are because of the

product life cycles that take place in different ways for different industries. The risks that are

involved in these risks are a competitive advantage, gain in market shares, and others.
 Reference

Chirico, F., Criaco, G., Baù, M., Naldi, L., Gomez-Mejia, L. R., & Kotlar, J. (2020). To

patent or not to patent: That is the question. Intellectual property protection in family

firms. Entrepreneurship Theory and Practice, 44(2), 339-367. [Accessed by

https://journals.sagepub.com/doi/pdf/10.1177/1042258718806251 ]

Pereira, L. M., Santos, F. C., & Lenaerts, T. (2020). To regulate or not: A social dynamics

analysis of an idealised AI race. Journal of Artificial Intelligence Research, 69, 881-

921. [Accessed by

https://www.jair.org/index.php/jair/article/download/12225/26624 ]