While the top ten is still dominated by European countries, the U.S and Singapore, and Japan, Latin America is gaining ground in the U.S. Chamber of Commerce’s Global Innovation Policy Center (GIPC) 2019 International IP Index. In particular, Argentina and Mexico increased their overall scores substantially this year, signalling a rising focus on global competitiveness in the region, according to the GIPC.
Mexico’s climb can partially be attributed to the United States-Mexico-Canada Agreement (USMCA), which laid a foundation for 21st century IP protection in free trade agreements. “The agreement included a number of beneficial provisions, including 10 years of regulatory data protection for biologics, criminal sanctions for trade secrets theft, and ex officio border enforcement for counterfeit goods in-transit,” the GIPC noted. India also jumped higher in the ranks for the second consecutive year, climbing eight places from 44th to 36th.