This study by the World Intellectual Property Organization (WIPO) summarizes the findings from more than 45 expert interviews in the fields of innovation and creativity. It explores how intellectual property (IP)-based innovation and creativity may evolve by the year 2034. The experts identified a range of factors that could significantly influence the way intellectual property promotes innovation and creativity over the next decade.
Their insights were categorized using the PESTLE framework, which includes Political, Economic, Social, Technological, Legal, and Environmental factors. Balancing these competing forces requires careful analysis and strategic planning to ensure that the IP system remains relevant and effective in fostering innovation and creativity.
Political forces and geopolitical shifts are reshaping the global IP landscape, influencing perceptions, use, and trust between nations. As new digital and physical “territorial” domains emerge, the IP system must evolve beyond traditional territorial principles to respond to changing international dynamics and new forms of cooperation.
At the economic level, the growing importance of intangible assets demands a global IP marketplace with harmonized valuation methods. Key issues include:
-
Aligning protection duration with the lifecycle of IP assets,
-
Reducing barriers for small and medium-sized enterprises (SMEs),
-
Striking a balance between providing incentives for innovation and ensuring access to knowledge.