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Intellectual Property Drives Economic Prosperity as World Emerges from Pandemic, New Report Shows
U.S. Chamber releases tenth annual International IP Index as intellectual property takes center stage in addressing world’s biggest challenges.
Washington, D.C. – Today, the U.S. Chamber of Commerce Global Innovation Policy Center (GIPC) released the tenth edition of the International IP Index, Compete for Tomorrow. The new report shows how intellectual property is a key driver of economic prosperity as the world emerges from the coronavirus pandemic.
The Index evaluates intellectual property rights across 55 global economies — from patent and copyright policies to commercialization of IP assets and ratification of international treaties. The United States earned the top score again in the 2022 edition, and 45 economies improved their overall score.
For ten years, the Index has evaluated the IP policies in global markets and helped economies chart a course towards a more innovative, competitive tomorrow. A decade’s worth of data shows that the global IP system has grown stronger as a result.
“By making the right policy choices, governments can accelerate innovation economies,” said David Hirschmann, President and CEO of GIPC. “As the data makes clear, effective intellectual property systems encourage innovators and creators to embrace new ideas, take risks, and drive change.”
“The Index also demonstrates how weakening intellectual property rights can undercut peoples’ access to the latest technologies, breakthrough medicines and creative works across the world. Dangerous proposals to surrender IP protections, like those under consideration at WTO, risk making this a reality,” Hirschmann said.
Key findings from the Index include:
IP continues to be a massive economic driver for jobs and investment. According to the U.S. Department of Commerce, in the United States alone, IP supports over $6 trillion in GDP and more than 45 million jobs.