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Secretary Locke Highlights the Importance of IP at World Intellectual Property Day Celebration

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Secretary Locke joined U.S. Trade Representative Ron Kirk, Under Secretary of Commerce for Intellectual Property and Director of the United States Patent and Trademark Office David Kappos, and House Judiciary Committee Chairman Lamar Smith on the Hill this week to celebrate the 11th anniversary of World Intellectual Property Day.

In his remarks, Locke highlighted the importance of intellectual property protection and enforcement to the U.S. economy and his work with Kappos to help bring the U.S. patent office into the 21st century. He also commended Smith andSenate Judiciary Chairman Patrick Leahy on their strong leadership for patent reform legislation currently being considered by Congress.

"Patent reform is critical to the well-being of our patent system and the effectiveness of the USPTO, which are so vital to American companies and oureconomic well-being,” Locke said. “This bipartisan legislation won't cost taxpayers a single dime, and it will ensure USPTO has the ability to tackle its backlog and better serve the needs of America’s innovators."

Around the world, enforcement of intellectual property rights helps prevent counterfeiting and piracy, which cost the United States billions of dollars and thousands of jobs each year. The Commerce Department actively engages foreign leaders and promotes stronger enforcement disciplines worldwide in its efforts to reduce losses associated with IP infringement.

Established by WIPO Member States in 2000, World Intellectual Property Day is celebrated annually on April 26th to increase the understanding and respect of IP and underscore its importance in promoting creativity and innovation. Remarks

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Importance of IP

IP rights is essential to set business apart from others, offer customers something different, and make them use as a security for loans. This issue is something serious to discuss. Starting from name, logo to creative effort implemented should be protected.