NNN agreement could prove to be a vital element if you wish to produce your proprietary products in China. NNN agreement should be written to be enforceable in a Chinese court with jurisdiction over the Chinese defendant. Foreign companies should register IP in China for trademarks, patents, designs, and copyright.
Proprietary products or services allow businesses to develop customer loyalty and continuously build on their offerings. When you’re taking advice from the financial institutions on the purchase of proprietary products, check if the institution promotes third-party funds. You may be limiting your chance of building your asset with the institution if it only offers proprietary products.
It is suggested to enquire what will happen to the asset if you move your account away from the institution that issued it. There are proprietary investments that are not portable. As a business owner, you might have to sell them before going to another firm. This may result in a capital gain/loss.
NNN agreement could prove to be a vital element if you wish to produce your proprietary products in China. NNN agreement should be written to be enforceable in a Chinese court with jurisdiction over the Chinese defendant. This means that Chinese law is the governing law, Chinese is the governing language, and exclusive jurisdiction is in a Chinese court with jurisdiction over the defendant. the China-specific Non-Disclosure, Non-Use and Non-Circumvention Agreement (NNN) and accompanying Original Equipment/Design (OEM/ODM) Manufacturer Agreements. These agreements are used to protect your confidential information and to prevent your Chinese manufacturer from competing with you or going around you to your customers or vendors. In other words, they make sense for almost every company doing business with China.
Protecting the IP and Trademark of your Proprietary Products
China has become one of the world’s major IP jurisdictions. Innovation and IP protection have been encouraged by the Chinese government. Foreign companies can register IP in China for trademarks, patents, designs and copyright. However, each of these is administered by a different government body. The primary law in China pertains to copyright. This protects copyrighted works of foreigners that are either first published in China or in countries that are signatories to the World Intellectual Property Organization (WIPO) copyright protection treaty.
Manufacturing price that sounds too good to be true might be a trap for the scammers. Inexperienced importers fall victim of the deception and select the cheapest price. They have no idea that this move is going to cost them dearly at the latter stages. Most of the time foreign importers are lured with amazing product images and unrealistic assurances by the manufacturers and the importers went on to make the deposit without visiting the factory.
Under the international trade law, there are different provisions for dispute settlement which is done with the help of WTO and GATT. It was governed by Article XXII and XXIII of the GATT, which set up a system of consultation for the settlement of disputes among the member nations. The dispute settlement system evolved over time, and there were additional documents, and legal instruments were created to incorporate changes. Even with certain changes, the dispute resolution mechanism was not considered satisfactory. International Trade laws deal with certain subjects which are inclusive to all the member nations under the WTO.