Promoting the Global Protection of Intellectual Property in the High-Tech Industry
Protecting trademarks, copyrights, patents, and other proprietary intellectual property (IP) is essential to innovation, economic growth and prosperity. While the results of violated IP may be obvious with counterfeit and pirated goods, the negative effects of IP infringement are widespread across multiple industries - reducing the value of intellectual capital, eroding financial health and the ability to invest in future innovations.
The U.S. Chamber of Commerce estimates that intellectual property theft costs domestic companies between $200-$250 billion a year in lost revenues and has resulted in a loss of 750,000 jobs in the United States.
From a legal standpoint, there are four types of intellectual property: Patents, Trademarks, Copyrights, and Trade Secret. IP registered in one of these categories with state and federal agencies is protected by law, and if infringed upon or otherwise abused, the infringers can be prosecuted.
According to the World Intellectual Property Organization: “Intellectual property (IP) refers to creations of the mind: inventions, literary and artistic works, and symbols, names, images, and designs used in commerce […] and is divided into two categories: Industrial property, which includes inventions (patents), trademarks, industrial designs, and geographic indications of source; and Copyright, which includes literary and artistic works such as novels, poems and plays, films, musical works, artistic works such as drawings, paintings, photographs and sculptures, and architectural designs […]” Brand protection issues can be challenging and complex, and AGMA member companies know that one of the keys to tackling these issues is the sharing of information. AGMA fosters and encourages collaboration amongst brand owners looking to protect their assets and avoid damage to their reputations.