FOR IMMEDIATE RELEASE: Wednesday, May 23, 2012
CONTACT: Ian Koski at 202-224-4216
Senator Coons calls for increased efforts to protect American intellectual property
New research details broad impact of intellectual property on Delaware’s economy
WASHINGTON – Speaking at an event hosted by the U.S. Chamber of Commerce’s Global Intellectual Property Center on Wednesday, U.S. Senator Chris Coons (D-Del.) praised new research that maps the broad impact that intellectual property has on the American economy and called for increased work by Congress to protect the ideas and innovations powering our economic recovery.
“Protecting American innovation means protecting American jobs,” Senator Coons said. “When thieves steal American intellectual property, they’re stealing American jobs. It really is just that simple. Offline and online, protecting American intellectual property is an economic security imperative.”
Wednesday’s event unveiled new research, which is available online at www.IPCreatesJobs.com, found that intellectual property supports 150,110 jobs in Delaware — including 57,692 direct jobs. Delaware’s intellectual property accounts for $4.9 billion in exports annually. The study also found that Delaware companies invest more than 40 percent in research and development than the national average.
Senator Coons, who is a member of the Senate Judiciary Committee and has introduced several bills to strengthen American innovation and intellectual property, pointed to two Delaware companies whose success depends on the sanctity of their intellectual property.
“Frank Masley started stitching gloves to solve a key problem – military-issue gloves that were warm and waterproof were too bulky for key tasks,” Senator Coons said. “He used materials from several Delaware companies to develop a better glove, perfect for flying Chinooks and other military aircraft. Masley Enterprises in Newark now has military contracts and 40 employees making gloves using a proprietary tooling process. If a competitor had access to his trade secrets, his company couldn’t continue to grow. He couldn’t create more jobs.”
“IP has a real impact on companies like Adesis — a small organic chemistry company in New Castle, Delaware,” Senator Coons said, “which was crippled when a disgruntled employee walked away to a competitor with Adesis’ trade secrets in hand. As that company prospered, Adesis was forced to lay off half of its 40 employees. Adesis won the court case and is on the rebound with 55 employees today, but imagine where they could be were it not for that setback.”
A fact sheet on the impact of intellectual property on the Delaware economy can be found here: http://www.theglobalipcenter.com/sites/default/files/delaware-2012.pdf