Global Innovation Policy Center

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.

In 2022 the U.S. Chamber of Commerce Global Innovation Policy Center (GIPC) released the tenth edition of the International IP Index, Compete for Tomorrow. The 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

• The global IP environment has improved over the last decade, but challenges remain as many economies still receive low grades on their protection of intellectual property rights.
• New tools to combat IP infringement online helped strengthen protection for IP owners. However, historically, many economies have struggled to provide adequate copyright protection as the growth and scale of online piracy increased over the last decade.
• Enforcement against physical IP-infringing goods has failed to keep pace with the increase in the volume of international trade in counterfeits over the last ten years.
• IP-intensive goods and services were critical to the global response to COVID-19.
• Despite the critical role IP played in response to the pandemic, some World Trade Organization (WTO) members continued to push a proposal to “waive” international IP commitments.

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.