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World Affairs, Economy
Mahesh

01/03/23 09:58 AM IST

India ranks 42nd out of 55 nations in global IP index

In News
  • India has been ranked 42nd out of 55 countries in the US Chamber of Commerce’s latest International IP Index report.
About IP Index
  • The annual International IP Index evaluates the protection of IP rights in 55 of the world’s leading economies, together representing around 90% of global GDP.
  • The report covers everything from patent and copyright laws to the ability to monetise IP assets and the ratification of international agreements.
  • The report shows a torrent of proposals — both domestic and international — are threatening to erode intellectual property (IP) rights.
  • By analysing the IP landscape in global markets, the index aims to help nations navigate toward a brighter economic future marked by greater innovation, creativity, and competitiveness.
  • It is an annual report compiled by the US Chambers of Commerce.
  • It evaluates the protection of IP rights in the world’s 55 major economies, which represent approximately 90% of global GDP.
  • The report covers topics ranging from patent and copyright laws to the potential for monetizing IP assets and the ratification of international agreement.
Intellectual Rights
  • Intellectual Property (IP) refers to creations of the mind, such as inventions, literary and artistic works, symbols, names, and images used in commerce.
  • It is a form of legal protection in the form of Intellectual Property Rights (IPR) given to individuals or companies for their creative and innovative works.
  • These rights are outlined in Article 27 of the Universal Declaration of Human Rights.
  • These legal protections allow the creators to control use of their work and prevent others from using or reproducing them without permission.
Source- Financial Express

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