Chapter 4.2

Definition & Terms Auto Pact aka Canada-US Auto Products Agreement –Agreement was signed in 1965 –It secured jobs for Canadians (Auto workers & parts manufactures)

Definition & Terms Telecommunication –Is communication over distance, examples are the telephone, Internet, radio, or television DFAIT –Provides trade data, country profiles, and market studies by sector –Also has links to the WTO, FTAA, NAFTA

Definition & Terms Patent –Is a grant of property right by law to give exclusive rights to the inventor and to protect the rights of the inventor and prevent others from making, using, or selling the invention

Definition & Terms Copyright –Is a form of legal protection provided to the author(s) of their original work(s), –this includes literary, dramatic, musical, and other intellectual works such as software programs

Definition & Terms Joint Ventures –Is an agreement between 2 or more organizations to share assets and control of a new business for mutual gain –Share: technology or manufacturing facilities

Short Answer Why did the WTO rule against provisions of the 1965 Canada-United States Auto Pact?

Short Answer The Auto Pact gave an unfair trade advantage to US automobile manufactures (GM, Ford & Chrysler) –GM imported SAAB, Isuzu –Ford imported Volvo & Jaguar –Chrysler imported Mercedes Benz

Short Answer What are four things an inventor can do with his or her idea after the patent has been registered?

Short Answer What are four things an inventor can do with his or her idea after the patent has been registered? –Sell patents or copywrights –License other companies to use it –Produce & Sell product for a fee –Create a joint venture with another company –Enter invention into a public domain, any company or person can use.

Short Answer Describe the changes that have taken place in the Canadian banking industry since the 1980’s

Short Answer Recent laws have been eliminated to allow foreign banks operate in Canada (“Save your money”, “Egg management Fee”)

Short Answer Banks are now categorized –Schedule I (Domestic, TD-Canada Trust) –Schedule II International banks (Bank of America) –Schedule III Small Foreign Bank Branches

4.3/4.4 Answers 1A Companies that have access to information can make decisions that will make or save money Before expanding a company needs know the wage rates, cost of living, market composition, consumer demand, sources of supply, shipping costs, tariff rates as well as political and economic data

4.3/4.4 Answers 1A In order to make good decisions companies need good information

4.3/4.4 Answers 2A Impact of Globalization New Markets –its easier to transport goods overseas Import Opportunities –Its easier to obtain non-traditional goods from around the globe

4.3/4.4 Answers 2A Impact of Globalization Labour a Variable Cost –Switched from a primary industry based to manufacturing & knowledge base economy –The price of labour is different across the country/world because of the different standard of living

4.3/4.4 Answers 2A Impact of Globalization The Value of Information –Information Technology is the “machinery” of the current era (Information Age) –All professions use IT to aid in making important business decisions as well as an important research tool.

4.3/4.4 Answers 2A Impact of Globalization Changes in Immigration –Canada attracts many professionals from all over the world, increasing competition for jobs (“Do we hire a Canadian or an immigrant?”) –Many Canadians leave Canada for higher paying wages known as the “brain drain”

4.3/4.4 Answers 3A The Home Office The Travelling Office (eg. Smartphone & Laptop in a train station) The Hotel Office Office in another country

4.3/4.4 Answers 4A Not all companies go domestic why? Product Quality (can’t meet international demand due to capacity issues) Complexity Risk & Cost (Cuba) Quality of Life (extra profit is not worth the effort)