On the recordOctober 5, 2011
as we discuss our relationship with China, it strikes me that we are ignoring one of the most critical issues impacting U.S. competitiveness in regard to China--namely, China's inadequate protection of U.S. intellectual property, or what I call IP. Let's remember that intellectual property is our Nation's No. 1 export. American IP underpins the knowledge economy, providing our workers and companies with a significant competitive advantage. In short, IP equals jobs for American workers. It is that simple. Studies have shown that IP-intensive industries employ more than 19 million workers, create higher paying jobs across all skill levels, and support more than 60 percent of total U.S. exports. That is why throughout my service here I have endeavored to ensure that U.S. innovators and content creators are able to operate in an environment in which their IP, or intellectual property, is adequately protected. I am pleased to have been the lead Republican sponsor of the recently enacted America Invents Act, which resulted in long overdue reforms to our Nation's patent system that will strengthen our economy, create jobs, and provide a springboard for further improvements to our intellectual property laws. I was very pleased to see Senator Grassley take that over as the new ranking member of the committee and do such a great job with it. And I want to pay tribute to the distinguished Senator from Vermont, Mr.…
