U.S.LeadsWorldinProtectingWorkofEntrepreneursandArtists,butNewPoliciesPoseRisks,U.S.ChamberResearchShows

February2024–Today,theU.S.ChamberofCommercereleasedthe12theditionof its International IP Index (IP Index), underscoring the pivotal role of intellectual property (IP)rightsindrivinginnovation,creativity,economicinvestment,andimprovingqualityoflife.

The comprehensive research reaffirms the importance of IP rights as the backbone of freeenterpriseandhowtheseconstitutionallyenshrinedprotectionsarevitaltodevelop,commercialize,anddistributegroundbreakinginventionsandcreativeworks.

“The Index demonstrates the benefits that economies can receive when they adopt robust andenforceableIPstandards.PolicymakersinIndiaarerecognizingthecriticallinkbetweenIPrightsandeconomicactivity,whichwillunderscoreIndia’sglobalcompetitiveness,”saidPatrickKilbride,SeniorVicePresidentoftheU.S.ChamberofCommerce’sGlobalInnovationPolicyCenter.

With this, the IP Index also serves as a compass to guide world leaders on proven methods tochampioninnovationandcreativityathome.Withthisdata,theycanseewhat’sworking,what’snot,and whatchanges areneeded toensureabrighter future.

“India’s recent strides in amending its intellectual property framework are commendable andunderscore the country’s proactive approach to empowering innovation and creativity. Suchinitiatives not only benefit domestic creators and innovators but also contribute to the broadergloballandscape ofintellectualpropertyrightsprotection,”Kilbridesaid.

KeyHighlightsfromthe2024InternationalIPIndex:

Globallandscape: TheIndexevaluatestheIPframeworksoftheworld’stop55economies,revealingsignificantimprovementsin20economies.WhiletheUnitedStatesis once again the world leader, there were notable advancements led by Saudi Arabia,Brazil, and Nigeria. However, challenges persist, as 27 economies showed no change andeight,includingEcuador,experienceddeclinesduetoweakIPenforcement.
Policypitfalls:Thereportcallsattentiontocriticaldebatesandpolicyproposalsthatcouldimpact global IP rights, including discussions on IP waivers in Geneva, confiscation ofbusiness property through “march-in” abuse in the U.S., and proposals to reduce IPstandardsintheEU,allofwhichjeopardizethefuturetrajectoryofglobalIPpolicy.
Turning the tide on piracy: Progress in combating online piracy is highlighted, with neweconomieslikeArgentinaandBraziladoptingdynamicinjunctionstoprotectcopyrightedworksonline.

IP-intensive industries continue to be a major economic force in the United States, supportingtens of millions of jobs and contributing approximately $7.8 trillion to the American economy,which accountsfor about40%ofthenation’sGDP.

Top10EconomiesforIPRights,2024