About International IP Index:
- It is released annually by the US Chamber of Commerce.
- The index evaluates IP rights in 55 global economies across 50 unique indicators.
- The indicators include patent and copyright policies to commercialization of IP assets, and ratification of international treaties.
- The index aims to help nations navigate toward a brighter economic future marked by greater innovation, creativity, and competitiveness.
- International IPIndex 2023: The United States is ranked first, followed by the UK and France. India is ranked 42nd in the index.
What is Intellectual Property?
- It refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names, and images used in commerce.
- Intellectual property rights (IPR) refers to the legal rights given to the inventor or creator to protect his invention or creation for a certain period of time.
- There are several types of intellectual property protection like patent, copyright, trademark, etc.
