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Intellectual Property Rights Encourage Innovation and Reward Entrepreneurs
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 to new innovations and improvements on existing ones.
American’s Founding Fathers so recognized the importance of innovation and ensured that strong IP rights for authors and inventors are protected in the U.S. Constitution, thus making America the world’s entrepreneural leader— a fact borne out by the overwhelming number of patents, copyrights and trademarks filed by the U.S. annually.