WASHINGTON, DC – Recent legislation introduced by U.S. Representatives Virginia Foxx (R – NC) and Bradley Byrne (R – AL) guarantees a clear definition of who is classified as a ‘joint employer’ and who shall be held liable in the case of an employees’ legal rights. The Save Local Business …
Center for Innovation and Free Enterprise
IP Rights are Protected by the Constitution
Article I, Section 8 of the Constitution by empowering Congress:
- “To promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries.”
IP Rights Create Jobs and Spur Economic Growth
- According to the United States Department of Commerce, U.S. intellectual property industries account for over 45 million American jobs.
- America’s IP is worth more than the gross domestic product of any other country, coming in at $5.8 trillion.
- IP-intensive industries account for over 1/3 of the total GDP in the U.S. as well as accounting for 74% of all U.S. exports.
- The economic impact of intellectual property in America is overwhelming, with innovation efforts contributing to over 40% of economic growth and employment across the country.
IP Protection Encourages Commerce in the Economy by:
- Providing incentives to create and invent;
- Protecting innovators from unauthorized copying;
- Facilitating specialization in technology markets;
- Creating a platform for financial investments in innovation;
- Supporting entrepreneurial liquidity through mergers, acquisitions, and IPOs;
- Supporting licensing-based technology business models; and
- Enabling a more efficient market for trading in technology and know-how.
In an increasingly globalized world, few policy areas are as relevant as intellectual property. As nations continue to navigate this changing world, it is imperative we focus on how essential IP laws, rights, and protections are to every nation, especially the United States. The Global Intellectual Property Center recently released …
The Center for Innovation and Free Enterprise (CIFE) is kicking off 2017 by highlighting the benefits of intellectual property and rolling out its “IP: America’s #1 Asset” education campaign. In the coming 20 weeks, CIFE will offer insightful data, resources, and information about intellectual property to policymakers in the executive …