IP protections help accelerate access to innovation
Adequate protection of intellectual property affords people around the world faster access to innovation. If an innovator is uncertain that IP will be adequately protected, they will be less willing to enter their product into the market, leading to hampered access to the latest breakthroughs. Moreover, strong IP systems provide the right incentives for competition, which accelerates innovation and its entry to the market.
IP protections incentivize investment in future innovation
Undertaking innovative work is often a tremendously risky endeavor requiring a massive investment of time and money. In the agricultural sector, the invention of hybrid seeds has transformed crop farming, but it can take up to 15 years and millions of dollars to develop a commercially viable product. Without strong protection of IP, fewer people will assume the risks and investments required for innovation to occur.
What You Need to Know About the WHO’s Upcoming Work on Pandemic Preparedness
As a new year begins, world leaders are looking to discuss how to best prepare for and respond to emerging health threats. The World Health Organization (WHO) Pandemic Prevention, Preparedness and Response (PPR) Accord, which seeks to negotiate a global consensus on how best to protect the world from future pandemics, will be front and center in these conversations.