Intellectual property (IP) protection supports the development of knowledge based industries, stimulates international trade and encourages investment and technology transfer.
IP rights can contribute substantially to a company’s assets and market value. They provide an incentive to invest in innovation and creation, generating a cyclical return on investment that finances further innovative and creative activity.
IP rights act as a form of currency enabling inventions, brands, copyrighted works and other innovative materials to be valued and traded.
What’s more, IP promotes the dissemination of new technologies through the disclosure of new inventions in patent applications and by supporting the licensing of new technologies encouraging more diverse cultural expression through art, literature, photography and music.
By serving as an indicator of quality and origin, IP rights also contribute to consumer protection, a boost to companies aiming to secure investment and collaborate with other firms.
These benefits of IP are not limited to large companies. For example, SME’s in the tech sector in Europe reported at least a 10% greater turnover, market share and employment growth when they invested in IP rights.
That’s why we work to identify key IP issues facing the international business community and is the business voice in debates and forums where these issues are being addressed.
As an advocate for international business, ICC works closely with intergovernmental organizations involved in IP policy-making including the World Intellectual Property Organization (WIPO) and the World Trade Organization (WTO) and other international organizations.
See also: ICC Innovation Principles