“International Intellectual Property Index” 2021 Released
The International Intellectual Property Index 2021 has been released by the US Chamber of Commerce Global Innovation Policy Centre (GIPC).
What is Global Innovation Policy Centre?
The Global Innovation Policy Center is the principal institution of the United States Chamber of Commerce handling all issues relating to innovation and creativity through advocating for strong intellectual property standards. The Aims of Global Innovation Policy Centre are-
- Strengthen the protection and enforcement of IP rights in the United States and abroad,
- Promote and defend the system of IP rights and norms in the United States, key countries, and multilateral forums,
- Increase support for IP rights as a driver of innovation and creativity.
About International Intellectual Property Index
- The International Intellectual Property Index released by the US Chamber of Commerce Global Innovation Policy Centre (GIPC) Annually.
- It evaluates the Intellectual Property rights in 53 global economies from patent and copyright policies to commercialisation of IP assets and ratification of international treaties.
- The Intellectual Property Index evaluates the each economy's ecosystem based on 50 unique indicators which the industry believes represent economies with the most effective IP systems.
- The IP Index serves as a roadmap for policymakers who look to support creativity, innovation and economic growth through more robust IP policy.
- It ranks countries based on 50 unique indicators. These indicators are divided across nine categories of protection: 1) Patents 2) copyrights 3) trademarks 4) design rights 5) trade secrets 6) commercialization of IP assets 7) enforcement 8) systemic efficiency and 9) membership and ratification of international treaties.
About International Intellectual Property Index 2021
- The overall global IP environment improved in 2020, with positive score increasing in 32 of the 53 economies measured by the IP Index. This is the ninth IP index released by the GIPC.
- The United States, Japan and Europe remained at the top of the global intellectual property rankings 2021, while emerging markets such as the UAE, China and Mexico continued to improve their scores.
- The 2021 Index showed improvement in the overall global IP environment despite the pandemic. The report also underscored the importance that strong IP economies have played in combating COVID-19.
- Despite the challenges presented by COVID-19, the global IP environment continued to strengthen. In the 2021 report, 32 of the 53 economies benchmarked had positive improvements in their scores.
- Trade agreements continue to substantively improve national IP frameworks, including in China and Mexico. To harness the full potential of the agreements, the provisions must be effectively implemented and enforced.
- IP enabled the development of a pipeline of therapeutics solutions to combat COVID-19. Both in the U.S. and around the world, vaccines and therapeutics were developed at an unprecedented speed because of the scale of public-private sector collaboration, made possible by effective IP protection.
- Despite the positive role IP played in response to the global pandemic, countries took steps to undermine IP-enabled innovation.
India’s Rank in International Intellectual Property Index 2021
India ranks 40 in the 2021 index among the 53 global economies. In 2020, India ranked 40 as well. Among BRICS nations, India registered the second-highest growth with an overall improvement of over 13%.