Intellectual Property Drives Innovation

The Trade Alliance to Promote Prosperity applauds the U.S. Chamber of Commerce’s Global Intellectual Property Center for holding today’s inaugural Global IP Summit, uniting the innovators that make our economic progress possible. The mission of today’s meeting was to underline the value of intellectual property as the driver behind economic, cultural and technological advancements. Now, more than ever, America’s innovation is the cornerstone of our ability to remain competitive in the global marketplace.

The first panel discussion of the day titled “IP Drives Innovation” reinforced our duty to protect our ideas.

Brian Keane, Executive Vice President of Blue Sky Studios, spoke on the value of creativity as an economic asset. His production company (responsible for animated classics like Ice Age and Rio) is founded on the export of imagination and relies on intellectual property protection to remain in business.

Tony Chen, President and CEO of the Osiris Shoe Company, reminded the audience how infringements of intellectual property undermine the basis of a company’s success. Many of Osiris’s innovations in apparel and footwear design were stolen after entering the marketplace, resulting in a loss of profit, particularly abroad where IP laws are not clearly defined.

Aventyn founder Novin Govind reiterated the challenge of navigating global standards of intellectual property laws. His company’s innovations in healthcare technology have confronted difficulties in remaining protected under the varying degrees of security guaranteed to IP around the world.

TAPP stands behind innovators like those featured today in their constant pursuit of progress. Protecting our intellectual property will maintain the incentive for visionaries to spend extensive time and money pushing the boundaries of what we accept as ‘possible’. This reality must be remembered when moving forward in Trans-Pacific Partnership negotiations; to preserve America’s history of innovation today and in the future.