International Intellectual Property Rights Index
Released by Global Innovation Policy Centre (GIPC) of US Chambers of Commerce. The Global Innovation Policy Center of the U.S. Chamber of Commerce published this index.
This evaluation, which presents a thorough analysis of the advantages and disadvantages of India's national IP environment, is a positive step.
Patents, copyright, and trademarks are just a few examples of IP that are legally protected and allow people to profit financially or get notoriety from their discoveries.
The goal of the IP system is to promote an atmosphere where innovation and creativity can thrive.
Innovation and creative endeavors are essential components that fuel economic growth and maintain an economy's competitive edge in every nation.
About International Intellectual Property Rights Index
- It is an annual Index that examines a country’s Intellectual Property (IP) framework across eight categories of indicators – patents, copyrights, trademarks, trade secrets, market access, enforcement, commercialization of IP assets, systemic efficiencies, and ratification of international treaties.
- The Index rates a country’s intellectual property legislation, policy, enforcement, and systems on 40 different metrics over the previous year, awarding a maximum of one point on each metric.
- The US Chamber of Commerce Global Innovation Policy Centre published it each year (GIPC).
- The index was originally published in 2012, and it analyzed the IP landscapes of 11 different economies.
- The Intellectual Property (IP) Index assesses the ecosystem of each country using 50 distinct factors that the industry feels indicate nations with the best IP systems.
Major Findings of the IIPI 2022
On the International Intellectual Property Index 2022, India's overall IP score increased from 38.4% to 38.6%, and the nation is now ranked 43 out of 55.
Top Five Ranks-
- the USA
- the United Kingdom
About US Chamber of Commerce
It is the biggest business federation in the world, representing the interests of over 3 million companies across all industries, geographies, and sizes. It also includes state and municipal chambers of commerce.
At the suggestion of President William Howard Taft and his Secretary of Commerce and Labor Charles Nagel, the organization was established in April 1912 out of regional chambers of commerce.
Benefits of the International Intellectual Property Rights Index
Over the past ten years, the world's IP environment has improved, yet there are still issues because many economies continue to have weak IP protection.
Historically, as internet piracy has grown in scope and size over the past ten years, many economies have found it difficult to offer appropriate copyright protection. New technologies to stop IP infringement online, however, have improved IP owners' security.
The scale of the international trade in counterfeit goods has increased over the past 10 years, yet enforcement against actual IP-infringing goods has not kept up.
A proposal to "waive" international IP agreements was still being pushed by some World Trade Organization (WTO) members notwithstanding the crucial role IP played in the pandemic response.
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