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The Importance of Intellectual Property Rights

What are intellectual property rights and what role do they play in the U.S. economy?


First off, there are 3 primary types of intellectual property — copyrights, patents, and trademarks. These give the exclusive right to innovators and entrepreneurs to own and profit off of their creative ideas and inventions. Intellectual property laws are an attempt from the government to protect creators from unaccredited copying so that businesses can obtain full benefits off their work.


Strong Intellectual property rights protection and enforcement are fundamental to generating jobs and encourages economic prosperity. These enforcements would open new markets for U.S. goods along with cultivating interest in advancing development and innovation.


The theft of other’s ideas are commonly seen in counterfeit goods. Trading pirated goods threatens America’s economy and market competition, but the damage caused to brands by counterfeit goods are more than just financial losses. Unauthentic merchandise can put consumers at risk, endangering their health and safety and can result in repetitional damage for the brands.



Given that the U.S Customs and Border Protection (CBP) has the right to detain and destroy any goods that violate intellectual property laws, they will seize any imports of counterfeit goods or patent infringing products from entering the U.S. Doing so would deter access to fake goods in America as well as lower the cost of intellectual property crimes to the country’s economy. The CBP supports American businesses by protecting their intellectual property rights and eliminating unfair competition. If you are an intellectual property right owner, consider partnering with CBP to receive border enforcement at all U.S. Ports of Entry for your registered trademarks and copyrights through CBP’s Recordation Program.


If you would like more information, feel free to send an email to info@spiritchbinc.com or call 714-738-1196.


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