International Trade: Novice exporters urged to get advice
YORKSHIRE businesses should look before they leap into international markets, according to expert advisers on international trade.
Businesses are being strongly urged to look overseas for new customers as economists predict a prolonged period of low growth in the domestic economy.
But while advisers with expertise in the field agree there are huge rewards for successful exporters, they also caution that care is needed for first time overseas traders.
One of the most important element of overseas trading for a business is protecting its intellectual property.
Josh Wong, partner at DLA Piper in Leeds, says: ““It is important to make sure the brand, logo and name is trademarked – not just in English but also in the local
language. I know of firms that have failed to protect their name in Chinese and then found that another business has trademarked it.
“In a ‘first to register regime’ such as China it can be very difficult to obtain rights registered by someone else and our client ended up having to pay a significant amount to buy the right to the use name.”
Protection of intellectual property is one of the issues examined in the new supplement on international trade from TheBusinessDesk.com in partnership with RSM Tenon and DLA Piper.
Another major question facing businesses considering entering new markets is how they work with third parties, particularly agents.
Neil Sevitt, regional managing partner for RSM Tenon, says: “You need to think about how you will use and manage an agent and whether that approach is right for your product.
“There are some markets where agents are more difficult to use. In the US, for example, they like to see people from the business, rather than someone
selling for multiple organisations.
“But there are other markets where it is often the only way in because of the complexities of understanding that market.”
Click here to download the 22-page free supplement in full.
TheBusinessDesk.com is teaming up with UK Trade & Investment to hold a seminar entitled ‘Exporting: is it for me?’ on December 12. To register, and for further information, email stephanie.higgins@thebusinessdesk.com.
