Sign In
Learn bits
World Affairs, Economy
Mahesh

01/03/23 09:58 AM IST

India ranks 42nd out of 55 nations in global IP index

In News
  • India has been ranked 42nd out of 55 countries in the US Chamber of Commerce’s latest International IP Index report.
About IP Index
  • The annual International IP Index evaluates the protection of IP rights in 55 of the world’s leading economies, together representing around 90% of global GDP.
  • The report covers everything from patent and copyright laws to the ability to monetise IP assets and the ratification of international agreements.
  • The report shows a torrent of proposals — both domestic and international — are threatening to erode intellectual property (IP) rights.
  • By analysing the IP landscape in global markets, the index aims to help nations navigate toward a brighter economic future marked by greater innovation, creativity, and competitiveness.
  • It is an annual report compiled by the US Chambers of Commerce.
  • It evaluates the protection of IP rights in the world’s 55 major economies, which represent approximately 90% of global GDP.
  • The report covers topics ranging from patent and copyright laws to the potential for monetizing IP assets and the ratification of international agreement.
Intellectual Rights
  • Intellectual Property (IP) refers to creations of the mind, such as inventions, literary and artistic works, symbols, names, and images used in commerce.
  • It is a form of legal protection in the form of Intellectual Property Rights (IPR) given to individuals or companies for their creative and innovative works.
  • These rights are outlined in Article 27 of the Universal Declaration of Human Rights.
  • These legal protections allow the creators to control use of their work and prevent others from using or reproducing them without permission.
Source- Financial Express

More Related Current Affairs View All

05 Mar

First-ever comprehensive survey of India’s river dolphins

'Prime Minister Narendra Modi released the results of the first-ever comprehensive population estimation of riverine dolphins – Gangetic and Indus dolphins – done in In

Read More

05 Mar

Arresting women at night

'The Madurai Bench of the Madras High Court in Deepa versus S. Vijayalakshmi and Others ruled that the legal provision in the Bharatiya Nagarik Suraksha Sanhita (BNSS), 2023, which

Read More

05 Mar

Digital Personal Data Protection Act, 2023

'The Ministry of Electronics and Information Technology (MeitY) looking to wrap up public consultations on the draft Rules for the Digital Personal Data Protection Act, 2023 by Mar

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps