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As society adjusted to living through a global pandemic, intellectual property (IP) played an essential—if oftentimes underappreciated—role in the creation and development of solutions to combat COVID-19. In this context, being able to measure how equipped economies are to generate and safeguard innovation and creativity is more important than ever before.
The 2021 Index illustrates that economies with the most effective IP frameworks are more likely to achieve the socio-economic benefits needed to combat COVID-19, including greater access to venture capital, increased private sector investment in research and development, and over 10 times more clinical trial activity. Over the last year, transparent and predictable intellectual property rights have also fostered unprecedented levels of highly successful public-private sector collaborations.
The Index evaluates the IP framework in each economy across 50 unique indicators which industry believes represent economies with the most effective IP systems. The indicators create a snapshot of an economies overall IP ecosystem and span nine categories of protection: patents, copyrights, trademarks, design rights, trade secrets, commercialization of IP assets, enforcement, systemic efficiency, and membership and ratification of international treaties.
As global citizens yearn to achieve our new normal, effective IP systems will be critical to rebuilding healthy communities, getting citizens back to work, and reinvigorating the global economy.