Today is #worldIPday – a day which is meant to bring to light the importance of intellectual property to maintaining progress across a broad range of industries. From life saving pharmaceuticals to the latest updates in mobile technology, IP is the foundation of value for companies ranging from Apple to Pfizer. If this foundation is not protected – it could lead to the demise of some of our strongest pillars of our economy.
The word “world” must be emphasized when celebrating World IP Day, because the disparities between respect for IP from country to country threaten the ties of the entire global economy. For proof of these inconsistencies, look no further than U.S. Chamber of Commerce’s Global Intellectual Property Center’s Global IP Index. The index pieces together the reality of how protecting intellectual property supports innovation. For example, economies that put an emphasis on intellectual property maintain an average of 2.5 times more R&D-focused personnel within their workforces. Protecting IP does not limit access to new technologies for new populations. People and companies rating above the median rating on the GIPC’s IP index are 30% more likely to have access to the latest technological developments.
In honor of World IP Day, let’s fight to strenghthen IP protections, and access to technology across the globe.