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TPP an Opportunity to Promote Global Innovation and Creativity
As negotiations for a Trans-Pacific Partnership (TPP) head toward a potential conclusion this week in Maui, the U.S. Chamber of Commerce’s Global IP Center reminds policy makers of the critical importance of innovative and creative industries to American jobs, growth, and future economic success. Innovation supported by intellectual property rules provides 40 million US jobs and accounts for 60% of all U.S. exports. Trade agreements provide a critical opportunity to reaffirm the U.S. commitment to innovation and strengthen the rules that apply globally among our trading partners.
Any TPP agreement should afford enhanced support for cutting edge American industries. The U.S. is a global leader in the biotech industry where statute provides 12 years of data exclusivity for innovative cures. Likewise, the U.S. Is the world’s largest provider of creative content thanks in large part to effective rules against copyright infringement by physical counterfeits and online piracy. TPP should reflect these core principles of US law.
Finally, TPP should not be a vehicle for efforts to replace the internationally recognized limits on exceptions and limitations with new and untested language or diminish the protection of IP overseas.
With strong provisions on IP that promote American ingenuity, TPP can be a driver for US job creation and global innovation. However, if an agreement fails to maintain strong US principles, negotiators should expect it to be marked “return to sender.”