PRA Celebrates WIPO IP Day “Women and IP: Accelerating innovation and creativity.”
On April 26, the World Intellectual Property Organization (WIPO) proposes a day to celebrate women’s contributions to protecting Intellectual Property. The theme for this year is “Women and IP: Accelerating Innovation and Creativity.” The Property Rights Alliance (PRA) is excited to celebrate alongside WIPO.
To commemorate and defend WIPO IP Day, PRA has released a letter defending women’s rights to engage in Intellectual Property Rights. In this letter, PRA covers the benefits gained from women accessing IP protections on an equal legal basis compared to men. You can read the full letter here or a summary below.
This theme recognizes the critical role of women in driving innovation. PRA believes that women shape both the present and the future, and it is essential for policymakers to ensure that women have the right to create and own their works. However, there is still a significant gender-rights disparity in some countries and regions, preventing some women from fully participating in the innovation economy.
Intellectual property (IP) rights are crucial for sustaining technological advancements that save lives, increase productivity, and pave the way for a prosperous future. IP is vital to a thriving economy and essential for economic growth.
The International Property Rights Index shows that advanced economies have improved their protection of property rights, including IP rights. The gap between these protections and the rest of the world is closing. A robust IP rights ecosystem correlates with higher GDP per capita, a more sustainable economy, a robust innovation environment, and a thriving biotech sector.
IP rights also play a critical role in promoting health by providing incentives for developing new medical treatments, drugs, and technologies. These incentives help de-risk investments and finance the next generation of medicines, allowing people worldwide to live longer healthier lives.
As Thomas Edison once said, “Anything that won’t sell, I don’t want to invent. Its sale is proof of utility, and utility is success.” IP rights are essential for driving innovation and improving lives.
In the United States, industries that rely heavily on intellectual property (IP) account for 44% of total employment. Jobs in these industries offer a 60% weekly wage premium compared to other industries. In the European Union, IP-intensive industries represented 83.3 million jobs or 38.9% of total employment in 2019. Globally, the UN estimates that IP-intensive industries provide 6.2% of all work, generating nearly 50 million jobs.
As exports of IP-intensive goods and services continue to grow, reaching $524 million in goods and $1.1 trillion in benefits, counterfeits and other forms of IP theft threaten the jobs and economies they support. The OECD estimates that 3.3% of global trade is counterfeit or pirated goods, almost equivalent in value to legally traded IP-intensive goods. The 2021 International Trade Barrier Index found that enforcing IP rights correlates with a solid trade-facilitating environment, reduced corruption, and a prosperous economy.
The Property Rights Alliance (PRA) calls on the World Intellectual Property Organization (WIPO) to protect IP and ensure a future of abundance marked by dynamic economies, thriving populations, and continued innovation. WIPO helps create a stable and predictable legal environment for IP by administering various international treaties, which is critical for encouraging investment in innovation and creativity. A robust IP rights regime will remain crucial to economic growth and human progress for years.