Is that a real Coach Handbag? Is that medicine I need for my blood pressure real? I hope so.
If I write a song or a book, will I be properly compensated for it? Will my children be able work in jobs that reward them for their creativity and hard work?
Unfortunately, some people believe that protecting intellectual property rights (IPR) only means that they have to pay for a product they would prefer to get for free or for next to nothing.
Most consider intellectual property as extending to music, movies, or books. But they also cover handbags, designer clothing and more scarily, medicines.
Of course it's true: We should pay for what we use. But it is important to understand that protecting intellectual property is really about protecting all of us.
Patents, copyrights and trademarks are there for two reasons. The first is to let the consumer know what he or she is buying, whether it is a designer handbag, a piece of expensive electronic equipment, or life-saving medicine.
The second reason is to protect the legitimate rights of the producer of products.
Yes, the author should be paid for his work, the inventor for her discovery and the designer for his creativity.
That, in turn, helps to foster innovation. And innovation is what drives our economies, raises our standard of living and improves our health care.
If you don't believe me, look at the statistics: The World Economic Forum reported that the 20 countries perceived to have the strongest intellectual property protection were among the world's top 27 countries in terms of economic growth opportunities.
In contrast, the countries with the worst intellectual property protection were at the bottom of the pile among the bottom 36 countries. It makes sense.
Most of the growth of the global economy in the last century -- a 20-fold increase -- was due to innovation. Now that 70 percent of global output is generated by services, innovation has become even more important.
Both the US and Taiwan have a strong interest in protecting and fostering our innovators.
For Taiwan, in particular, the future is clear with respect to economic development. The nation's high-tech industries, scientists and engineers -- of which you are justifiably proud -- will lead to economic growth and development. Encouraging and protecting their discoveries and innovations are key to a prosperous future.
Copyright protections for Taiwan's musicians, writers and artists -- whether they be world famous or local favorites -- are important to keep them creating and contributing to Taiwan's rich culture.
And yes, when we take medicine, whether it be for a headache, high blood pressure, or even the flu, we all deserve to know what exactly we are buying.
Taiwan is taking steps to improve its intellectual property protection. The Taiwan Intellectual Property Office under the Ministry of Economic Affairs, along with many others in government, industry and education, are working hard on this important issue. Not only are they improving protections for all of us, they are helping to build a prosperous future for the nation.
Best wishes to everyone on World Intellectual Property Day.
Stephen Young is the director of the American Institute in Taiwan.
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