The U.S. Chamber of Commerce’s Global Innovation Policy Center is working around the world to champion innovation and creativity through intellectual property standards that create jobs, save lives, advance global economic and cultural prosperity, and generate breakthrough solutions to global challenges.
IP-intensive industries employ over 45 million Americans, and hundreds of millions of people worldwide. Jobs in IP-intensive industries are expected to grow faster over the next decade than the national average. The average worker in an IP-intensive industry earned about 46% more than his counterpart in a non-IP industry.
America’s IP is worth $6.6 trillion, more than the nominal GDP of any other country in the world. IP-intensive industries account for over 1/3– or 38.2%– of total U.S. GDP. IP accounts for 52% of all U.S. merchandise exports- which amounts to nearly $842 billion. The direct and indirect economic… [READ MORE]
Strong IP rights help consumers make an educated choice about the safety, reliability, and effectiveness of their purchases. Enforced IP rights ensure products are authentic, and of the high-quality that consumers recognize and expect. IP rights foster the confidence and ease of mind that consumers demand and markets rely on.
Nearly all of the hundreds of products on the World Health Organization’s Essential Drug List, which are critical to saving or improving people’s lives around the globe, came from the R&D-intensive pharmaceutical industry that depends on patent protections. Innovative agricultural companies are creating new products to help farmers produce more… [READ MORE]
Risk and occasional failure are the lifeblood of the innovation economy. IP rights incentivize entrepreneurs to keep pushing for new advances in the face of adversity. IP rights facilitate the free flow of information by sharing the protected know-how critical to the original, patented invention. In turn, this process leads… [READ MORE]
American innovation leadership owes a tremendous debt to United States Senator Birch Bayh (IN), who passed away on March 14, 2019. Together with Senator Robert Dole (KS), Birch co-sponsored the eponymous Bayh-Dole act. The Act assigned the property rights to innovations born of federally-funded research to those entities that carried... [READ MORE]
