The CIPU report indicates a significant gap in IP competence among U.S. business professionals, threatening the effective management of intellectual property rights. With intangible assets now constituting 90% of S&P 500 values, the growing relevance of IP in global business highlights the urgent need for improved IP education. Most professionals interviewed came from engineering backgrounds, but noted insufficient formal training in IP topics. The report proposes enhanced coursework and training to bolster IP literacy in the workforce, emphasizing its imperative role in safeguarding commercial viability.
The inability to discuss IP matters competently... can lead to costly communication barriers that negatively impact the commercial viability of issued patent rights.
The permeation of IP's value throughout the international marketplace means that an ever-expanding class of professionals are now engaging with patent, copyright and trademark issues.
CIPU's study reflects findings collected from interviews with 15 professionals situated across the IP spectrum, both in terms of their job position and forms of IP with which they interact.
Most engineer respondents noted a complete lack of non-elective courses related to IP, indicating a significant gap in essential knowledge for their roles.
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