Korea ranks 13th in the world in terms of intellectual property standards, a US report showed on March 6.
The country received 36.06 points out of the full 45, with its ranking slipping two spots from the previous year, according to the Global Innovation Policy Center’s International Intellectual Property Index 2019.
The GIPC is a research arm of the US Chamber of Commerce. The report covers 50 countries, and the GIPC index measures how countries around the world stack up when it comes to innovation and IP.
It evaluates countries in eight IP categories, including patent, copyright, trademark, trade secrets and ratification of international treaties.
Korea’s drop in the global ranking was attributed mainly to its introduction of measures in 2017-18, which undermined the IP rights of biopharmaceuticals.
The United States has clinched the top spot with an overall score of 42.66 points, followed by Britain with 42.22, Sweden with 41.03, France with 41 and Germany 40.54.
Among Asian countries, Japan ranked eight with 39.48 points, and Singapore placed 10th with 37.12, according to the report.
By Ram Garikipati and newswires (firstname.lastname@example.org)