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U.S. Chamber International IP Index Ranks Canada 15th in Global IP Protection
WASHINGTON, D.C. — Today in Ottawa, the U.S. Chamber of Commerce co-hosted a discussion with AmCham Canada and the Canadian Intellectual Property Council about the 4th edition of the U.S. Chamber International IP Index, “Infinite Possibilities.” The Index, produced by the Chamber’s Global Intellectual Property Center (GIPC), evaluates the strengths and weaknesses of Canada’s IP system relative to other key global markets and found that Canada ranked 15th of the 38 economies benchmarked in the study. Over the last year, Canada has introduced policies to strengthen its IP system, including ex officio authority for customs officials and, pending implementation, enhanced life sciences IP provisions through the Comprehensive Economic and Trade Agreement (CETA).
The 38 economies benchmarked in the 4th Edition of the Index accounts for nearly 85% of global gross domestic product (GDP). The Index is based on 30 measurable criteria critical to innovation including patent, copyright and trademark protections, enforcement, and engagement in international treaties, among others.
“As our closest neighbor and ally, cooperation with Canada to maximize innovative competitiveness is critical to regional growth and prosperity. Robust IP protections play an essential role in fostering greater innovative productivity,” said David Hirschmann, president and CEO of GIPC. “The Index provides economies with a roadmap to strengthen the legal framework needed to bring new, innovative technologies to market. A unified approach to innovation driven by intellectual property will position the U.S. and Canada to enjoy continued success and leadership in the global economy.”
“I applaud GIPC for their work in producing this 4th edition of the Index. The importance of IP protection to Canada’s innovation and productivity cannot be understated and the index provides a solid measure of our progress in strengthening IP while highlighting the need to do more,” said Rick Tachuk, chairman of AmCham Canada.
“The Index rankings are a useful tool for business in benchmarking the state of IP law. However, the real value is in cross checking a country’s IP system with business investment and innovation to evaluate competitiveness. The subtleties behind the rankings help illustrate the role IP plays in stimulating economy growth,” added Scott Smith, executive director of the Canadian Intellectual Property Council.
The Index ranks the economies in Algeria, Argentina, Australia, Brazil, Brunei, Canada, Chile, China, Colombia, Ecuador, France, Germany, India, Indonesia, Israel, Italy, Japan, Malaysia, Mexico, New Zealand, Nigeria, Peru, Poland, Russia, Singapore, South Africa, South Korea, Sweden, Switzerland, Taiwan, Thailand, Turkey, Ukraine, United Arab Emirates (UAE), United Kingdom (UK), United States (U.S.), Venezuela, and Vietnam.
The full Index can be viewed at http://www.theglobalipcenter.com/gipcindex.