While people continue to debate whether patents spur or stifle innovation, the recently published 2015 International IP Index from the Global Intellectual Property Center (GIPC) of the U.S. Chamber of Commerce draws correlations between strong IP protections and thriving innovative economies. Namely:
- Economies with robust IP environments yield 50 percent more innovative output compared to countries with IP regimes in need of improvement.
- Economies with favorable IP regimes employ more than half their workforce in knowledge-intensive sectors.
- Companies in economies with advanced IP systems are 40 percent more likely to invest in R&D.
- Economies with beneficial IP protection see 9-10 times more life sciences investment than countries with weak IP protections.