Ambassador Jeffrey Gerrish, former deputy U.S. Trade Representative, and Andrei Iancu, C4IP co-chair and former USPTO director, recently published an opinion piece in Fox News highlighting the importance of strong intellectual property protections to the U.S. economy.
The authors explain how foreign countries have long benefited from American innovation while ignoring the patent protections U.S. companies need to compete, and that restoring stronger patent rights is essential to protecting the American innovators.
They also argue that while tariffs have received much public attention recently, the administration’s efforts to defend American intellectual property abroad could have an even greater long-term impact. But they note that more can still be done to cement these protections, including the passage of the RESTORE Patent Rights Act.
“Strong IP protections incentivize and protect those investments — and all Americans benefit from the ensuing economic growth and technological progress. IP-intensive industries support nearly half of U.S. GDP and more than 62 million jobs,” Gerrish and Iancu explain. “And that’s why, in the long run, the administration’s lower-profile efforts to strengthen IP protections may actually prove even more beneficial for American companies, workers and consumers than its much-touted tariff policy.”
Read the full op-ed here:
https://www.foxnews.com/opinion/not-just-tariffs-foreign-nations-profited-off-us-now-trump-striking-back