[Congressional Record (Bound Edition), Volume 163 (2017), Part 5]
[Senate]
[Pages 5972-5973]
[From the U.S. Government Publishing Office, www.gpo.gov]




                    WORLD INTELLECTUAL PROPERTY DAY

  Mr. GRASSLEY. Mr. President, on April 26 of each year, we celebrate 
World Intellectual Property Day and recognize the important role of 
intellectual property rights in the fabric of our society. This year, 
we take time to recognize the innovators and creators who are making 
our lives healthier, safer, and more productive through their ingenuity 
and the robust system

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of intellectual property protections enshrined in our laws.
  The Founding Fathers recognized the value of intellectual property, 
empowering Congress ``to promote the progress of science and useful 
arts, by securing for limited times to authors and inventors the 
exclusive right to their respective writings and discoveries.''
  Placing this authority within Congress's enumerated powers 
underscores the weight that our Founding Fathers placed on intellectual 
property's value to the budding Nation as a means of fostering economic 
development and growth. Our success as a nation in agriculture, 
manufacturing, technology, and medicine shares a common thread of 
intellectual property rights.
  True to their predictions, our system of intellectual property has 
fostered innovation and ensured America's role as an economic engine of 
inventions that have made us healthier, safer, and more secure.
  Our system of intellectual property rights has evolved since the 
ratification of the Constitution and the passage of the Copyright Act 
of 1790, but its core mission of promoting innovation has remained 
constant.
  Our innovators and creators rely on IP protections such as patents, 
trademarks, copyrights, and trade secrets to help drive and recoup 
their investments of ingenuity.
  Of course, the innovation that intellectual property helps encourage 
benefits society more broadly as well. It drives enormous economic 
activity and development, helping assure America's place as an economic 
and intellectual beacon to the world. As the U.S. Chamber's Global 
Intellectual Property Center recently pointed out, IP-intensive 
industries employ over 40 million Americans, accounting for 34.8 
percent of total U.S. gross domestic product.
  Iowans have long held intellectual property as an integral part of 
our economy. Our commitment to growth and innovation has led to $11.2 
billion in annual IP-related exports from the State, more than 667,000 
IP-related jobs, and 19.9 percent higher wages for direct IP workers 
than non-IP workers.
  As a society, we depend on innovators to make our lives better and to 
solve the challenges we face. These innovators, in turn, depend on 
different forms of intellectual property.
  The Judiciary Committee will continue to play an important role in 
protecting intellectual property and we will continue to work to 
advance innovation. This week, Senator Leahy and I reintroduced the 
Patents for Humanity Program Improvement Act to encourage and reward 
companies that innovate and use patented technology to address 
humanitarian needs. This legislation improves the incentives for small 
businesses to participate in the program, by ensuring that the prize--a 
certificate for expedited processing of certain matters at the USPTO--
can be transferable to third parties.
  Yesterday, we held a hearing with witnesses from U.S. Immigration and 
Customs Enforcement and industry innovators who described the central 
role that intellectual property has played in allowing their businesses 
to grow and innovate. We also heard about some of the enforcement 
challenges that those in IP-intensive industries face as they seek to 
protect their intellectual property.
  As a cochair of the Congressional Trademark Caucus, which we just 
relaunched this week, I recognize the value of trademarks and their 
impact on society and the economy, as well as how counterfeiting can 
seriously impact consumer health and safety. Counterfeiting of goods 
presents a worldwide problem with enormous health and economic impacts, 
costing the global economy over 2.5 million jobs per year, while 
draining tax revenue and hurting the ability of American companies to 
compete in foreign markets.
  Similarly, trade secret theft is an increasingly serious problem. A 
report by the IP Commission found that annual losses due to trade 
secret theft are over $300 billion and is the cause of an estimated 
loss of 2.1 million American jobs. That is why we passed into law the 
Defend Trade Secrets Act of 2016. This important legislation brings 
needed uniformity to trade secret law and provides more certainty to 
the innovators who rely on trade secrets to develop novel solutions to 
important problems that face us as a nation.
  Intellectual property is a key driver of innovation and fundamental 
building block of our modern economy. This World IP Day, as we 
recognize the positive impacts IP has on innovation, let us continue to 
find ways to work together to ensure its protection against 
infringement and maintain the United States enduring position as the 
most innovative and creative country in the world.

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