World Intellectual Property Day Salutes Visionary Innovators

BRUSSELS, April 26, 2012 /PRNewswire/ --

IP provides incentives to innovators, attracts investment and creates jobs

Today is World Intellectual Property Day (World IP Day) and the American Chamber of Commerce to the EU (AmCham EU) would like to celebrate the importance of intellectual property in fostering innovation and creativity in Europe and the World.  This year's theme is 'Visionary Innovators', recognizing those with foresight and creativity.

Intellectual property rights can take the form of patents, trademarks, designs and copyright and are designed to safeguard the creator's inventions, brands and creativity.  "Intellectual property is one of the key drivers of economic growth. It's what gives both companies, including SMEs, and individuals alike the incentive to take risks and invest time and resources developing new products, technologies and solutions to the benefit of consumers," said Hendrik Bourgeois, Chair, American Chamber of Commerce to the EU.  He went on to add, "By incentivising innovation and creativity, intellectual property attracts investments and creates new jobs in Europe. This is exactly what is needed in this current economic climate, and it all starts with IP protection."

Intellectual property is the cornerstone of the EU economy and a key pillar of the knowledge-based society. In 2010 alone, the European Patent Office granted over 55,000 patents and the Office for Harmonisation in the Internal Market registered over 100,000 Community trademarks. Such patents and trademarks reward innovators, protect their investments, encourage new technologies and help launch new products and services that benefits consumers and society-at-large.  Given that innovation is a key contributor to growth, it is more important than ever that the value of intellectual property is understood and protected. Weakening of IP protection levels would reduce incentives to innovate and invest and have a detrimental effect on jobs and competitiveness in Europe. Such trends should be resisted.

AmCham EU is committed to helping make Europe an innovation hub. This is why, we are delighted to celebrate the World IP Day and its visionary innovators that shape our world.

AmCham EU speaks for American business committed to Europe on trade investment and competitiveness issues. It aims to ensure a growth orientated business and investment climate in Europe. AmCham EU facilitates the resolution of transatlantic issues that impact business and play a role in creating better understanding of EU & US positions on business matters.

SOURCE AmCham EU