Smart Sourcing

Development of products and designs can simply be outsourced to other continents or countries for their cheap yet trustworthy work. It might sound politically incorrect but it is something that has been followed widely by startups and entrepreneurs. This can be closely followed especially during the company’s new venture into another country.

Protect Intellectual Property Rights

An entrepreneur must be very keen, selective and careful while hitting the international market. He must be aware of the legal constraints and other rules while placing the company in a country and he must also be careful about the intellectual property rights. A smart entrepreneur should first protect his intellectual rights because the complete business plan or idea would be a disastrous failure if the concept or business plan is leaked. Gaining worldwide patent protection is the simplest way to deal with this problem.

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