To the Presidential Candidates,
The first of the three presidential debates focused primarily on the state of the U.S. economy and the actions each candidate would take to improve the fiscal state and jobs market across the country. While both candidates presented valuable points, a critical factor in growing the economy – innovation – was missing from the conversation. As we progress forward in the 21st century, ideas will be the common currency and it is important the United States and its leaders do everything possible to foster innovation.
Intellectual property safeguards are essential to protecting and enhancing the growth of ideas and IP-intensive companies. These businesses have a huge impact on our economy at both the state and national level, and every state is significantly impacted by the growth of intellectual property, as the subsequent spillover effects result in growth for other industries. In order to improve our economy and put people back to work we have to focus more on cultivating competitiveness by enhancing IP.
A recent study conducted by the US Chamber’s Global Intellectual Property Center concluded that IP supports 55.7 million direct and indirect jobs across the United States. These companies contributed more than $5.8 trillion in output while supporting salaries 30.5 % higher than the national average. In total, IP intensive companies accounted for 74% of total U.S. exports in 2011. The Technology Association of Georgia as a state-level organization is particularly pleased to see that our state’s IP industry alone supports 1,853,603 jobs – a clear indicator of the immense capabilities of this industry to put Georgians back to work.
In the second presidential debate, we hope that both candidates will address intellectual property as an invaluable method of driving our economy and holding America up as the global standard for innovation. Here at the Technology Association of Georgia, we have one simple question for the candidates:
How, as President, would you foster the growth of innovation and the intellectual property marketplace, and how would you ensure that the IP industry is protected and encouraged to grow during these difficult economic times?
President and CEO
Technology Association of Georgia