Why ideas matter

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Necessary Necessary. Non-necessary Non-necessary. For many companies in every industry, a digital transformation is underway, as they seek to develop a competitive advantage through new digital innovations and rely more heavily on digital data. This digital transformation is creating an enormous amount of new confidential information — much that should be considered and protected as trade secrets. It is thus increasingly important for companies to build a systematic, effective culture of protecting trade secrets — well beyond mere document marking and non-disclosure agreements.

Get It Right! The strength of a country's patent rights is positively correlated to foreign investment FDI in both developed and developing countries. Technology transfers, imports of high-end goods and services, and employment opportunities resulting from effective IP protection also benefit consumers in developing countries: "IPR reform in the South leads to increased FDI in the North, as Northern firms shift production to Southern affiliates.

This FDI accelerates Southern industrial development. The South's share of global manufacturing and the pace at which production of recently invented goods shifts to the South both increase. Many vital needs of the future depend on IP. Reducing carbon emissions and energy consumption, making healthcare more effective, improving computers and communication, and other technology needs of the future will continue to be funded in substantial part by the private sector relying on the IP system.

Cullen Likewise, innovations in medicine and healthcare depend heavily on IP. This part of the Ideas Matter site collects and presents the facts, figures, case studies and other information about the importance of IP for innovation, the economy and society.

Ideas are vital for innovation, creativity and competitiveness. Governments and a wide variety of industries and small and large companies all over the world have long recognised the importance of intellectual property IP in encouraging creative ideas and innovation.