Property Rights Alliance, in partnership with 101 think tanks and advocacy associations in 47 countries, is proud to launch an open letter celebrating World Intellectual Property Day, addressed to the World Intellectual Property Organization's Director General Daren Tang. We stand with content creators and rights holders around the world to fight for stronger, more effective intellectual property rights. This year PRA is delighted to support WIPO's theme "IP & SMEs: Taking Your Ideas to Market." Stronger intellectual property rights help, to incentivize research, boost innovation, and support recovery efforts.
As noted by the letter:
"No business is too small to benefit from IP, research shows that start-ups with patents experience 55% higher employment growth and 80% higher sales growth five years later."
"The free-flow exchange of IP intensive goods and services across the world is vital to the COVID19 recovery; a global market buttressed by robust IP enforcement is necessary to guard against counterfeits, coerced technology transfers, and other unfair trade practices"
"WTO member governments must ensure adequate and effective IP protections consistent with their multilateral and regional commitments"
The protection of intellectual property rights is imperative to innovation, entrepreneurship, and economic growth. When these rights are not secure, products and their unique identifiers are subject to infringement. This reduces economic incentives to innovate or enter new markets.
Stronger intellectual property protections allow content creators to have control over their products, content, and designs, and to defend their work from those who infringe on their unique contributions. Studies have continuously shown that countries with stronger IP regimes enjoy a higher per capita GDP, experience greater overall levels of development, and contribute significantly to global biotech innovation.
IP-intensive industries are a driver of the global economy, and their rights must not be taken for granted. IP-intensive firms support 45.5 million jobs and contribute $6.6 trillion in value added in the United States, as well as contributing to 45% of GDP and employing 30% of the workforce in the European Union.
Governments must continue to protect intellectual property rights and encourage SMEs to take full advantage of the rights available to them. As stated in the letter, "Yet, not all innovators leverage IP rights. According to a joint report by the European Patent Office and European Union Intellectual Property Office, only 9% of SMEs own significant IP."
On the release, Executive Director of Property Rights Alliance Lorenzo Montanari stated, "We stand with intellectual property rights because we support innovation, creativity and a free-market economy. Today more than ever, international organizations and governments across the world need to promote policies that recognize IP rights as a key contributor to innovation and defeating COVID-19. Strong IP keeps us safe."
The full letter can be found here: https://bit.ly/3ng6jQd