Tuesday, 14 February 2017
U.S. Chamber of Commerce Releases 2017 International IP Index
In February of 2017, the U.S. Chamber of Commerce (Chamber) released its 2017 International IP Index. (Index). Unsurprisingly, the overall conclusion is that IP is the medicine for all that ills countries. The 148 page Index contains a helpful description of the purpose and function of the Index:
Now in its fifth edition, the U.S. Chamber’s International IP Index continues to provide an important industry perspective on the IP standards that influence both long- and short-term business and investment decisions. The Index is a unique and continuously evolving instrument. Not only does it assess the state of the international IP environment, it also provides a clear roadmap for any economy that wishes to be competitive in the 21st century knowledge-based global economy. Large, small, developing, or developed—economies from across the world can use the insights about their own national IP environments as well as that of their neighbors and international competitors to improve their own performance and better compete at the highest levels for global investment, talent, and growth.
Notably, part of the Index focuses on the “Innovation and Creativity Life Cycle.” In examining the life cycle, the Index notes that there is a strong correlation between robust IP rights and “knowledge intensive jobs,” “biotechnology innovation,” “greater access to licensed music content,” “creative outputs,” “nearly 50% more attractive to foreign direct investment,” and “online activity” to name a few. Perhaps the most interesting data in the Index concerns the analysis of individual countries and a breakdown of “key strengths” and “key weaknesses” in their respective IP systems. The full Index can be found, here.