Pugatch Consilium and the U.S. Chamber of Commerce launch the 9th edition of the International IP Index
Last week saw the launch of the ninth edition of the International IP Index. Since 2012 the U.S. Chamber of Commerce’s International IP Index has provided 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. Today the Index consists of 50 discrete indicators across nine separate categories that together measure the strength of a national IP environment. The Index in 2020 covers 53 economies that together represent both a geographical cross-section of the world and over 90% of global economic output.
Since 2015, the Index has also included a Statistical Annex which investigates the relationship between the strength of economies’ national IP environments and different types of economic activity including rates of R&D spending, innovation, technology creation, and creativity. The most up-to-date data on the benefits of IP protection reveal that IP rights are, in fact, a critical instrument for economies seeking to enhance access to innovation, grow domestic innovative output, and enjoy the dynamic growth benefits of an innovative economy. Conversely, weak IP protection stymies long-term strategic aspirations around innovation and development. The Index’s Statistical Annex has shown the strong, direct, and statistically significant relationship between IP protection and innovation – ranging from attractiveness to venture capital and R&D investments, to magnitude of innovative activities, outputs and early adoption of technologies.
This is a particularly important message in light of the negative economic impact of the COVID-19 pandemic. Many economies will need to be re-built and there will need to be an emphasis on policies that promote growth, recovery, and innovation across the globe. The strengthening of IP rights should be a central part of this global reform effort and economic recovery. This year’s Index and Statistical Annex and statistical correlations show, again, the strong, direct, and statistically significant relationship between the strength of the national IP environment as measured by the Index and rates of innovation, growth and high-tech economic activity.
To access the Index and Statistical Annex please visit:Share