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| Foundations for Strong IP Protections Highlighted
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February 2, 2006
Washington, D.C. - The Small Business & Entrepreneurship Council (SBE Council) published a new report today, titled "Innovation and Intellectual Property: The Economics and the History," highlighting the foundations for strong intellectual property protections.
SBE Council CEO & President Karen Kerrigan observed: "The issue of intellectual property protection perhaps has never been more important to U.S. entrepreneurs and small businesses, and to our economy, than it is right now. It is critical that all who are engaged in debates about IP protections on the Internet and in international trade, copyright, and patent reform understand the basic economics and history regarding property protections."
SBE Council chief economist Raymond J. Keating, author of the report, noted: "Property rights have long been recognized as a critical building block of economic development. Oddly, though, at this point in time when intellectual property has arguably become more important for economic growth than ever before, this fundamental lesson of economics and history sometimes seems to be forgotten."
Keating added: "So, in this report, we turn to some of the great economic minds over the past two-plus centuries to communicate the economic basics for protecting intellectual property, and also turn to notable economic historians to understand the real-life, pro-growth impact of a rigorous system of property protections, including for IP."
Keating concluded: "Economics and history show that if individuals and society want to encourage risk takers to continue to innovate, invent and create, then we need serious and substantive protection of intellectual property."
The report "Innovation and Intellectual Property: The Economics and the History" can be downloaded from SBE Council's website...
SBE Council can be contacted at 202-785-0238. For nearly 12 years the SBE Council, a nonpartisan, nonprofit small business advocacy group headquartered in Washington, D.C., has been working to protect small business and promote entrepreneurship.
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