Intellectual Property Rights are the Basis of Free Enterprise

The 12th IP Index evaluates intellectual property systems in the world’s top 55 economies using 50 unique criteria. The data shows economies how to improve IP-driven innovation and creativity and reveals trends in global IP protection.

Top IP takeaways for 2024:

• Encouraging improvements, some declines: The overall IP conditions improved in 20 economies, led by Saudi Arabia, Brazil, and Nigeria, showing increased investment in innovation. However, 27 economies saw no change, and eight declined, notably Ecuador, due to lackluster IP enforcement measures.

• International debates persist: In global talks, there’s a misunderstanding about how crucial intellectual property is for solving challenging issues like pandemics, world hunger, and energy shortages. Debates around IP waivers and forced technology transfers impact many areas of the world economy, including medicine and green technology. This might hold back the development of these vital solutions.

• Developed economies walking a tightrope: Developed economies risk forfeiting IP leadership due to damaging policy proposals. For example, the Biden Administration’s unprecedented call to use “march-in rights” to enact price controls in the U.S. and limitations on regulatory data and patent protection in Europe threaten to undermine their IP leadership.

• Pirates at bay: Nations continue making strides in fighting online piracy, and there’s been some progress. Argentina, Brazil, Canada, India, and Singapore, among others, are using dynamic injunctions to safeguard copyrighted works on the Internet. Meanwhile, the Philippines is considering introducing similar measures, and India has started enforcing criminal penalties for copyright infringement.

Bottom line: When our leaders make decisions on IP, they’re not just deciding for themselves—they’re shaping the future for all of us. That’s where the International IP Index comes in, acting as a compass to help our leaders navigate the tricky waters of innovation and progress. With this data, they can see what’s working, what’s not, and what changes we need to make to ensure a brighter future for everyone.