Intellectual Property: Creating Jobs, Saving Lives, Improving the World

Intellectual property (IP) is the defining economic currency of the 21st century. It drives innovation, job creation, and America’s global competitiveness. Effectively applied and adequately protected, IP can save lives and help solve society’s most pressing problems. With strong IP protections, our most innovative minds will have the resources and incentives to develop cures for deadly diseases, productivity-enhancing software, safe and plentiful food supplies, and clean energy technologies.

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Why Are Intellectual Property Rights Important?

The current global economic crisis is focusing renewed attention on the urgent need to incentivize and protect innovation to both solve the world’s most challenging problems and to generate jobs and economic growth. Intellectual Property (IP), which refers to everything from inventions to the creative arts, drives innovation and improves our lives—generating life saving devices and medicines, discovering new energy and climate-saving technologies, finding novel ways to create and deliver information, and generating consumer goods of all types. IP-intensive industries employ over 18 million Americans, and many of them are in higher-paying jobs and faster-growing fields. Indeed, the nation’s—and the world’s—future economy will be in industries that rely on innovation and strong IP rights.

Counterfeiting and Piracy: Threats to Consumers and Jobs 

Counterfeiting and piracy cost the U.S. economy billions of dollars annually, have led to the loss of hundreds of thousands of jobs, and needlessly expose consumers to dangerous and defective products.

Top 10 Ways to Protect Yourself from Counterfeiting and Piracy

Once viewed as "victimless crimes," counterfeiting and piracy have mushroomed in recent years.  Since the early 1990s, trade in counterfeits has grown at eight times the rate of legitimate trade.  Counterfeit-related seizures by the U.S. Customs and Border Patrol rose 125% during the past five years and are up 805 from 2005 to 2006 alone.  The sale of these dangerous and defective goods has far-reaching consequences for our lives and our economy.