U.S. Chamber Launches “Faces of IP”
The U.S. Chamber of Commerce’s Global Intellectual Property Center (GIPC) today unveiled the Faces of IP project, which profiles small and medium size businesses from all walks of life and highlights the important role innovation and creativity has played in their success. This project also speaks to how intellectual property rights both incentivize and safeguard their hard work and ingenuity. Faces of IP is an online resource that profiles companies from all across the country, and 10 of these “faces” will be featured at the GIPC’s upcoming Sixth Annual Intellectual Property Summit event.
“These businesses are American success stories because they represent the same spirit of innovation and creativity that helped form the strongest economy in the world,” said Dr. Mark Esper, executive vice president of the Chamber’s GIPC. “Up-and-coming innovators and entrepreneurs should be inspired by their accomplishments because they are the epitome of American novelty. Intellectual property rights play a critical role in this process, and have been doing so for generations.”
The companies identified in GIPC’s Faces of IP attribute a large portion of the revenue to their ownership of patents, copyrights, and trademarks. In some cases, more than 60% of their revenue is attributed to IP-which most people know more commonly as the ideas or creations of the mind underlying their business. Many of these businesses were started as individual endeavors and have grown into multi-million dollar enterprises, employing hundreds of people.
“The Faces of IP are real people with real stories to tell, and this project underscores the importance of promoting and safeguarding our intellectual property rights system,” added Esper. “As evidenced in each of these stories, American innovation and creativity is vital to our economy. IP is a key tool we must use as it will build a resurgent economy and increase job growth.”
These ‘faces’ represent a wide-range of industry, including agricultural, entertainment, energy and climate-friendly technologies, educational tools, medical equipment and other innovative products for everyday life. In addition, these businesses spend anywhere from $10,000 to $85 million in research and development (R&D), which creates jobs.
The Chamber’s Global Intellectual Property Center is working around the world to champion IP as vital to creating jobs, saving lives, advancing global economic growth, and generating breakthrough solutions to global challenges.
The U.S. Chamber is the world’s largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.
For more information, please contact Trinh Nguyen at (202) 463-5379.