"Intellectual property theft costs the United States approximately $600 billion per year, representing the greatest transfer of wealth in history."
"The innovative biopharmaceutical industry supported more than 4.5 million jobs in the U.S. and contributed more than $1.2 trillion to the economy in 2014."
"In 2016, the biopharmaceutical industry exported in excess of $52 billion, making it one of the top U.S. exporters among intellectual property-intensive industries."
"Protecting U.S. jobs and growing the U.S. economy corresponds to safeguarding U.S. innovation and intellectual property."
NAFTA, effective since January 1994, was the first trade agreement to include intellectual property rights protections. As NAFTA is renegotiated, strengthening these protections is vital. Intellectual property theft costs the U.S. around $600 billion annually, significantly impacting industries like biopharmaceuticals, which support millions of jobs and contribute over $1.2 trillion to the economy. The new NAFTA must prioritize the enforcement of intellectual property rights to safeguard innovation and economic growth.
Read at IPWatchdog.com | Patents & Intellectual Property Law
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