US Chamber of Commerce: ‘Protecting IP drives innovation’
February 9, 2015
By Colin Mann
The US Chamber of Commerce’s Global Intellectual Property Center (GIPC) has released its third annual International IP Index, UP: Unlimited Potential, which found that 20 of the 30 economies examined in the Index improved their scores from last year. Thailand received the lowest ranking, while the US received the highest.
The 2015 edition of the Index ranks 30 economies around the world, representing 80 per cent of the world’s 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.
“Twenty nations improved their score in the 2015 IP index, showing that leaders in both developing and developed economies increasingly recognise the connection between effective intellectual property protection and achieving their greatest economic potential.” said David Hirschmann, president and CEO of GIPC. “Protecting intellectual property drives innovation in economies, which creates everything from life-saving cures, to the must-have technologies and services that allow consumers to access the latest creative content everywhere. Without protections in place to safeguard innovation, these breakthrough products and technologies simply wouldn’t exist.”
“Businesses understand the climate they need to be successful, and they understand that protecting IP rights and innovation is essential in deciding what technologies to advance and where to invest and create jobs,” said Mark Elliot, executive vice president of GIPC. “The Index serves as a tool for governments around the world to hear directly from the business community about the conditions necessary for an innovative economy.”
The Index ranks the economies in Argentina, Australia, Brazil, Canada, Chile, China, Colombia, France, Germany, India, Indonesia, Japan, Malaysia, Mexico, New Zealand, Nigeria, Peru, Russia, Singapore, South Africa, South Korea, Switzerland, Taiwan, Thailand, Turkey, Ukraine, United Arab Emirates (UAE), United Kingdom (UK), United States (US), and Vietnam.