Technological changes have transformed global competition. For a country to be competitive, it must offer innovative, high-value-added, and knowledge-intensive products and services.The ability to do so depends on the recognition that a society grants to ideas and creativity. On the one hand, intellectual property rights recognize the ability of human beings and institutions to create goods and innovative services that seek to solve problems and bring ideas into being. On the other, they create incentives for society to invest in activities and knowledge that contribute to the creation of wealth of a country.
The study on the impact of intellectual property rights in Mexico and its competitiveness reveals that IP protection has a positive impact on various economic and social aspects. In particular, intellectual property:
- Contributes to greater job creation.
- Helps to attract foreign direct investment (FDI) of high quality.
- Promotes technology transfer to Mexican companies, particularly to SMEs.
- Protects human capital.
- Is essential to ensure consumer protection.
- The failure to protect IP rights can lead to signficant revenue loss for a country.