Protecting Intellectual Property Rights is Vital to the Innovation Economy

I wholeheartedly agree with colleague Alex Rued’s insights in her post Innovation Economy Helps U.S. Reclaim Reputation as an Investment Hotspot. She observes that America’s “[comparative] advantage depends on technology.” An additional vital element underpinning the innovation economy is our reliable and consistent protection of intellectual property rights (IPR). Our enduring understanding of the importance of IPR protection has helped afford us unparalleled economic benefits. According to the US Chamber of Commerce’s Global Intellectual Property Center, over one-third of U.S. gross output originates from IP-centered companies and they account for 74% of U.S. exports – see Intellectual Property: The Innovation Economy’s Engine for Growth and Job Creation for a more in depth discussion of this topic.

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