The U.S. Chamber of Commerce’s Global Innovation Policy Center (GIPC) has released its International IP Index, “Inspiring Tomorrow,” which assesses the intellectual property (IP) environments of 50 world economies. Covering all forms of IP, the report highlights movement in almost half the Index economies over the last year.
Over the past year, IP has taken center stage in international key trade discussion. The ongoing trade dispute between China and the U.S. brought much-needed attention to long-standing challenges that are holding back global investment in IP-intensive industries. Additionally, the United States-Mexico-Canada Agreement (USMCA) laid a foundation for 21st century IP protection in free trade agreements. The agreement included a number of beneficial provisions, including 10 years of regulatory data protection for biologics, criminal sanctions for trade secrets theft, and ex officio border enforcement for counterfeit goods in-transit.
“The USMCA raised the bar for IP enforcement and protections in North America,” said David Hirschmann, president and CEO of GIPC. “The agreement lays the foundation for IP chapters in future trade deals with Japan, the UK, and the EU, allowing innovators and creators to prosper around the globe. When innovators succeed, countries succeed. Governments with strong IP systems foster greater innovation and creativity and position themselves to better compete at the highest levels for global investment, talent, and growth. Likewise, the countries that weakened on IP protection should reverse course. We encourage policymakers around the world to use this report as a roadmap to improve their IP standards in order to reap the economic rewards that effective IP systems provide.”
The U.S., UK, several European economies, Japan, and Singapore remain atop the global IP rankings, with the United States seeing a slight increase in its overall lead.
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