The calendar is littered with holidays set on April 26: Audubon Day, National Dissertation Day, National Help a Horse Day, National Pretzel Day, Get Organized Day, and even National Hairball Awareness Day. In the global electronics supply chain world, the one that deserves balloons, streamers and general merriment is World Intellectual Property Day.
The theme for this year is Reach for Gold: IP and Sports. Sports, whether basketball, football, baseball or gymnastics, have become a multi-billion dollar global industry that generates investment in facilities and employs millions of people globally. However, the electronics industry finds that IP equally critical and important and any threat to needs to be addressed thoroughly.
In the electronics world, intellectual property is the lifeblood of innovation—and an incredibly valuable commodity to any organization. The U.S. Chamber of Commerce estimates that intellectual property (IP) threats cost domestic companies more than $250 billion per year in lost revenues. Added to that is the loss of approximately 750,000 jobs.
“Strong IP systems are the driving force behind the innovations that enable us to enrich life, address global problems, and achieve unpredictable progress,” the U.S. Chamber of Commerce said. “Effective IP policies not only enable bold investment in these new technologies but also foster environments where innovation and creativity is appropriately valued and cultivated.”
The Alliance for Gray Market and Counterfeit Abatement (AGMA), a non-profit organization focused on IP protection, created the infographic below to outline the four key threats to IP in the high-tech industry. By guarding these areas, organizations can protect innovation and secure their IP.
Take a look and then let us know what your company is doing to protect its IP in the comments section below.