As the summer is fast approaching, many European companies engaged in tourism industry are looking for opportunities to expand their business into South-East Asian countries. Thailand, for example, offers many promising business opportunities for the European SMEs in tourism industry as tourism is one of the fastest growing industries in there. However, European SMEs should not let the summer’s heat take their focus away from IP protection when planning their move to Thailand, because IPR infringements are still commonplace in Thailand. Today’s blog post, thus, discusses IP Protection in Thailand, focusing particularly on the tourism industry.
Tourism industry in Thailand continues to offer many lucrative opportunities to European SMEs as Thailand remains one of the most popular tourist destinations in the Asia Pacific region due to its white sandy beaches, abundant tropical nature, inexpensive accommodation and well-developed transport and communication infrastructure. Underpinned by government’s and private sector stakeholders’ recent efforts to market Thailand around the globe, the industry has grown to become one of the country’s most productive and sustainable industries, contributing a total of EUR 69bn towards the economy in 2014, making up more than 19% of the GDP of Thailand.
SMEs engaged in tourism need to pay special attention to protecting their intellectual property (IP) rights, because despite recent improvements in Thailand’s IP legal framework, IP infringements are still relatively common in the country. IP rights are a key factor for business success and neglecting to register them in Thailand could easily end SMEs’ business endeavor in the country. Thus, a robust IPR strategy is needed, when entering the lucrative market of Thailand. Continue reading “IP Protection in Thailand for the Tourism Industry” »