Wednesday, October 8, 2008

The Importance of Intellictual Property

Tom Donohue recently wrote an article for the Huffington Post emphasizing the importance of the United State's protection of intellectual property and its influence on the ability to remain the top an innovation leader in the world. The United States is about to face a time where they see competition from other countries that have recognized the importance of innovation. However, the US is at the top of protecting it's own intellictual material.

In 2006, the United States led the world in global patent filings, accounting for more than one-third of the total. This was spurred by industry investing more than $223 billion in research and development. America's IP-intensive industries have created 18 million jobs for U.S. workers--jobs that usually pay better and are expected to grow faster over the next decade than the national average.

In 2008, Congress passed the Pro-IP Act of 2008 which strengthened civil and criminal IP laws. Yesterday, we observed how one of the goals of the next US President needs to be promoting and encouraging scientific education and innovation and R&D needs to be a main focus of all the scientific organizations. We've also highlighted that Judy Estrin wrote a book about the current problem of scientific minds dwindling in the US. How do you think protecting intellictual property will encourage creative minds? As Donohue stated, it's added jobs to our workforce, and can give us way much, such as alternative energy sources and cures for diseases.


Pepe Arias said...

Just like nations compete for leadership in less important matters like sports, Americans share a common pride of being a place where many key inventions that improved the life and ways of mankind were created. Being number 1 in patents filed means that being an inventor is still a desire for many brilliant minds. Protecting the posibility of making money with those great ideas is key. So there is a big challenge for the new leader of the US to boost his country into the future again by creating and maintaining laws and programs that attract very talented people to create wealth in the age of knowledge.

Jennifer said...

Thanks for reading our blog, Pepe.

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