Safeguarding Intellectual Property & Preventing Corruption in Global Supply Chains
The Research Working Group disseminated a benchmarking survey to IP and Compliance attorneys at leading firms worldwide, and respondents included 55 firms from the Fortune 500 and Fortune Global 500 lists.
To dowload the complete survey results click here: Survey Results
Key findings that emerged from the survey:
- When facing the risk of IP infringement in emerging markets, roughly half of the surveyed executives saw extensive risk both “upstream” among suppliers (43%) and also “downstream” with third-party agents and business partners (48%).
- On the question of corrupt business practices, however, executives were much more likely to see extensive risk downstream in the supply chain. 70% of executives believed there was extensive risk of corrupt activities when working with agents and business partners in emerging markets, while only 46% saw major risk when engaging suppliers in these locations.
- An effective compliance program rests on seven pillars: Risk Assessment, Due Diligence, Contract Provisions, Audits and Monitoring, Governance and Management, Codes and Policies, and Training and Communications.
- Training of company employees is a key ingredient of a successful compliance program. From 35% to 40% of executives rated training of company employees as very effective for enhancing compliance by suppliers and by agents/business partners both for intellectual property and anti-corruption.
- 62% of respondents felt that their company would benefit greatly from independent business organizations that provide an objective third-party rating of the effectiveness of IP protection at potential partners such as suppliers and downstream agents.