“International Intellectual Property Index” 2021 Released

What is the News?

The International Intellectual Property Index,2021 has been released.

About International Intellectual Property Index:

• It is an annual report that the US Chamber of Commerce Global Innovation Policy Centre(GIPC) releases.
• Aim: The aim of the index is to evaluate Intellectual Property rights in 53 global economies. These economies represent together over 90% of global GDP.
• Parameters: 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.

Key Findings Related to India:

• 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%,

Other Key Findings Globally:

• Despite the challenges presented by COVID-19, the global IP environment continued to strengthen. In the 2021 report, 32 of the 53 economies had positive improvements in their scores.
• Further, the US, the UK, Germany, France, and Japan are the top five economies on the IP Index in 2021.

Source: NDTV