PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Ranking IP Across the Globe

By at 9 February, 2018, 5:01 pm

by Karen Kerrigan-

On February 8, the U.S. Chamber’s Global Innovation Policy Center (GIPC) released the 2018 International IP Index titled “Create.”  The annual global ranking is important as the findings offer key insights for policy makers and elected officials who want to improve their business environments, the performance of their economies, and the innovative capacity of their nations by improving or building a strong intellectual property (IP) framework.  Such a framework is critical to entrepreneurship and small business growth, as a variety of studies have documented that countries with strong IP protections foster more innovation, higher levels of investment, and healthier levels of business creation.

This year’s IP Index found that while the U.S. remains on top in the overall ranking, that lead has narrowed between America and other countries. The 2018 IP Index is the sixth annual report, and over the course of these years IP protections in the U.S. have weakened while other countries have improved. For example, the U.S. patent system ranks 12th (down two spots from 2017). On U.S. border enforcement, however, the U.S. has improved.

The good news overall is that more countries are strengthening IP protections, which greatly benefits citizens throughout the world and the entrepreneurs – the risk-takers and innovators – who create new ideas, products, drugs, technologies, entertainment, music, art and the list goes on.

As David Hirschmann, president and CEO of GIPC, noted about the 2018 IP Index:

“The results of this year’s Index illustrate a growing global commitment to IP-driven creativity and innovation. “The majority of countries took steps to strengthen their IP systems and foster an environment that encourages and incentivizes creators to bring their ideas to market. While a clear pack of leaders in IP protection top the rankings, the leadership gap has narrowed in a new global race to the top. There is still work to be done, and we hope governments will use this Index as a blueprint to further improve their IP ecosystems and grow competitive, knowledge-based economies. When countries invest in strong IP systems, we all benefit.”

The IP Index analyzes the intellectual property (IP) climate in 50 world economies. The report ranks economies based on 40 unique indicators that benchmark activity critical to innovation development surrounding patent, trademark, copyright, and trade secrets protection.

Here are the Top Ten countries:

#1 United States

#2 United Kingdom

#3 Sweden

#4 France

#5 Germany

#6 Irelan

#7 Netherlands

#8 Japan

#9 Singapore

#10 Switzerland

Venezuela is dead last on the ranking.  See the full list here.

For more background information on IP and its importance to entrepreneurs and the growth of the U.S. economy, you can read Unleashing Small Business Through IP:  The Role of Intellectual Property in Driving Entrepreneurship, Innovation and Investment, a free booklet that is available on SBE Council’s website here.

Karen Kerrigan is president & CEO of the Small Business & Entrepreneurship Council.

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