Latin American countries, with nearly 600 million people, or 10 percent of the world’s population, present many good business opportunities to the United States, not only as markets for product exports but also as additional locations for competitive manufacturing facilities. This is due to various factors:
- the current political stability of many Latin American governments;
- the trade agreements entered into by the United States with Chile, the Dominican Republic, Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Peru and Mexico, and the one being considered with regard to Colombia;
- the favorable exchange rates;
- the proximity to the United States from a language and culture perspective.
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Nowadays, “Latin America” refers to Mexico, most of Central and South America, as well as to Cuba, the Dominican Republic and Puerto Rico. U.S. businesses need to understand how one of their most important assets, intellectual property, can best be protected in this region, especially from counterfeiting and piracy that plague businesses everywhere.
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