New Delhi, February 23, 2023 – The U.S. Chamber of Commerce’s latest International IP Index report shows a torrent of proposals – both domestic and international – are threatening to erode intellectual property (IP) rights.
The annual International IP Index (Index) evaluates the protection of IP rights in 55 of the world’s leading economies, together representing approximately 90 percent of global GDP. The report covers everything from patent and copyright laws to the ability to monetize IP assets and the ratification of international agreements.
By analyzing the IP landscape in global markets, the Index aims to help nations navigate toward a brighter economic future marked by greater innovation, creativity, and competitiveness. Following a decade of steady, incremental, improvement in IP systems worldwide, a deluge of proposals under consideration by U.S. and international policy leaders, including at multilateral organizations, threatens to compromise hard-won economic gains.
“As India’s size and economic influence grows on the world stage, India is ripe to become a leader for emerging markets seeking to transform their economy through IP-driven innovation.” said Patrick Kilbride, Senior Vice President of the U.S. Chamber of Commerce Global Innovation Policy Center who publishes the annual report.
“India has taken steps to improve enforcement against copyright-infringing content and provides a best-in-class framework to promote better understanding and utilization of IP assets. However, address long-standing gaps in its IP framework will be critical to India’s ability to creating a new model for the region and India’s continued economic growth” Kilbride said.
Key findings from the Index include:
· Mostly stagnant IP environment in 2022: Twenty-eight economies’ scores remained unchanged, illustrating that progress to improve global IP protection may be stagnating.
· Policy landscape getting stormy: The future of IP-driven innovation hangs in the balance as negotiations to preemptively weaken IP rights continue at the World Trade Organization, World Health Organization, and in world capitals, with the ominous possibility of a substantial erosion of the global IP framework.
· 5G is a beacon of progress: Not only did IP-intensive technologies like 5G keep the world connected throughout the pandemic, but they also pack a powerful economic punch, producing a significant and positive economic impact.
· Pirates at bay: In 2022, economies across Asia, Europe, Latin America, and North America made progress towards enhancing copyright protection and shutting down access to copyright and trademark-infringing content online.
IP remains a colossal economic driver that generates employment and investment opportunities. 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.