March 14, 2016

Nations Protecting Homegrown Innovation: The Best and the Worst

This blog was originally posted on the U.S. Chamber’s Above the Fold.

Innovators across the globe are striving to create the next big thing – but what countries are stepping up to protect those ideas?

The good news: Many of them.

The U.S. Chamber of Commerce recently released the 4th Edition of the International IP Index, and it revealed that half of the 38 economies benchmarked recognized the benefits of intellectual property (IP) and strengthened their systems – in turn improving their overall scores from last year. The United States again scored the highest.

The index is based on 30 measurable criteria critical to innovation, including, patent, copyright and trademark protections, enforcement, and engagement in international treaties; the 38 economies account for nearly 85% of global gross domestic product (GDP).

Not only are we keeping score, we are sharing our international results. The U.S. Chamber’s Global Intellectual Property Center’s Patrick Kilbride will deliver the opening keynote speech Thursday during the second day of the Managing IP International Patent Forum in London. Kilbride will speak about the Chamber’s recent report and the IP landscape in Europe.

The Chamber index highlights the key criteria businesses look at when they are deciding where to invest their resources, which in turn leads to greater economic strength domestically for those economies. It’s a win-win, and there are infinite possibilities for economies around the world who seek to improve their IP regimes.

While there are clear winners on the IP front, some economies are lagging. Venezuela finished last in the latest index, with India and Thailand not far ahead.

But the importance is the progress being made on the global stage – and the big payoff. Momentum in the global IP system means new lifesaving medications, greater creative content, and more innovative brands. Everybody wins.

Eric Nelson is managing editor of digital content for the U.S. Chamber of Commerce. He oversees Above the Fold and handles editorial decisions for the Chamber Quarterly magazine.

Subscribe for updates from GIPC