The International Chamber of Commerce has released the latest version of its Intellectual Property Roadmap, which provides a useful overview of the nature and uses of intellectual property, and current and emerging issues that businesses and governments face as they seek to implement and use IP and promote innovation.
The new 13th edition of ICC’s IP Roadmap, updated from its previous version released in 2014, explores key issues that businesses and governments are facing in relation to intellectual property, including these 5 takeaways on how IP is evolving:
1. Innovation is a global game. Innovation is increasingly collaborative and goes beyond borders. This creates formidable challenges for managing IP assets and enforcing IP rights in multiple jurisdictions with varying approaches to IP rights
2. New technologies are transforming IP management and enforcement. As high-tech innovations such as artificial intelligence are transforming our lives, technical advancements are also focusing on the use of IP in standards and the practical ability to protect IP in electronic networks.
3. IP is a public issue. Innovation and collaboration will play an increasingly important role in helping achieve public goals such as addressing climate change, and IP itself and better public understanding of IP will be key factors in enabling this.
4. Company data and trade secrets are more valuable than ever. Information and knowledge are often the most valuable assets of a company. Trade secrets and confidential business information are of growing importance, especially in light of the globalisation of trade and interconnected supply chains.
5. Intellectual property is a valuable asset in itself. IP is a valuable asset in itself that can bring in revenues, improve balance sheets, increase stock value, or be used as collateral. The market for trading in IP is growing and becoming ever more inventive.
The IP Roadmap, billed as an ‘essential IP reference tool’, covers the major global developments in all major areas of IP law, practice, valuation, infringements and trends.
“IP has entered the mainstream of public debate and is increasingly important to all kinds of business. Getting one’s basic facts right matters more and more,” said Robin Jacob, former UK Lord Justice of Appeal and now a member of the UCL Faculty of Laws. “The ICC IP Roadmap is a very valuable resource for [specialists and] non-specialists who are or may be concerned with IP: CEOs, journalists, economists, policymakers and others.”