US: Former Secretary of Commerce urges the upcoming U.S. President to intensify the importance of IP Rights

On an open letter addressed to the forthcoming 45th President of the United States of America, the former U.S. Secretary of Commerce and current Co-Chair of Albright Stonebridge Group, Carlos Gutierrez, has stressed the importance that the new head of the executive branch should give to Intellectual Property Rights.

Mr. Gutierrez begins by congratulating the future victorious candidate, he then proceeds to remind that the very foundations of the State were built upon robust IP rights, which are one of the fundamental elements that are behind the success of the American economy. Patents, copyrights, trademarks and trade secrets are the key driving factors that fuel innovation, creativity and entrepreneurship. He emphasises that the failure to adequately enforce IP rights becomes a hindrance to the economy as a whole.

On his own words, Mr. Gutierrez identifies that, “Today, more than 40 million Americans have jobs in diverse IP-intensive industries ranging from medical research to fashion to film and music to technology. These industries also generate over two-thirds of our GDP and nearly three-quarters of all U.S. exports. The products of these industries – from the latest movie to a new life-saving medicine – "enrich and improve the quality of our lives.”

The failure to establish robust IP rights policies comprise future expansions on crucial industries that may severely hinder economic growth, innovation and even pose a threat to public health. Mr. Gutierrez calls on the resilience of policymakers, business owners and the general public to respect IP rights nationally and abroad and do more to expand its enforceability.