The U.S. Chamber of Commerce’s Global Intellectual Property Center (GIPC) on Wednesday released its 5th annual International IP Index. Nigeria’s overall percentage score was 10.97 out of 35, placing the country 35th out of the other 45 countries assessed.
The United States received the highest ranking, while Venezuela received the lowest. The report, titled “The Roots of Innovation,” rating 45 world economies on patents, trademarks, copyright, trade secrets, enforcement, and international treaties. The economies benchmarked in the 2017 Index account for 90 percent of global gross domestic product (GDP).
“Just as a tree cannot grow without roots, innovation cannot thrive without intellectual property,” said David Hirschmann, president and CEO of GIPC. “In the 2017 International IP Index, we provide both an IP report card for the world and a guidebook for policymakers seeking to bolster economic growth and innovation.
“This year’s Index shows that a clear pack of leaders has emerged: the United States, United Kingdom, Japan, and the European Union. But all that invest in the systemic recognition and protection of IP stand to reap the benefits: foreign investments, healthier home-grown industries that export innovative products, and a reputation as a place where the world can do business. From the most developed countries to the least, countries that demonstrate a commitment to IP will reap a reward.”
The Index ranks the IP systems in Algeria, Argentina, Australia, Brazil, Brunei, Canada, Chile, China, Colombia, Ecuador, Egypt, France, Germany, Hungary, India, Indonesia, Israel, Italy, Japan, Kenya, Malaysia, Mexico, New Zealand, Nigeria, Pakistan, Peru, Philippines, Poland, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, Turkey, Ukraine, United Arab Emirates, United Kingdom, United States, Venezuela, and Vietnam.