Protecting property is a basic requirement of government. Some states do it well and some states fail miserable. How does your state stack up?
In a ground breaking analysis of every state's protection of Intellectual Property, the National Alliance of Jobs and Innovation ("NAJI" - I am the Chairman Emeritus) ranked every state in the nation on how vigilant states are protecting us. USA companies are never successful because they are the cheapest in the world. Our labor, tax and regulatory costs are far too high. How do Americans compete? By having the best innovations. This secret sauce differentiates us from our global economic adversaries.
At Marlin Steel, 20% of our employees are degreed engineers coming up with breakthroughs every day so our products are unique and enables us to export our baskets and material handling racks and carts to 39 countries. Like other companies, it is innovative ideas that power our growth and our jobs.
States that protect these innovations welcome entrepreneurs that are thinking outside the box - that will create the next ground breaking companies. Sadly, most states disregard the critical importance of protecting our property so our good ideas are stolen and we can not create as many jobs. Foolish states (the worst are Indiana, Iowa, Virginia, South Dakota, Kansas, West Virginia, and Wyoming) that do not protect us will hamper our job growth.
Here are three important take observations from the study:
1)Cheaters enjoy tremendous advantages. For example, a foreign firm saves money and debilitates honest USA factories because the foreign company is not playing by the rules. They do not have to pay for scientists and engineers. They just have to have a copier. They only copy good ideas not all the failed attempts we are burdened with till we get the right new product.
2)State's consumer protection laws are critical to protecting companies since the Federal Government is not protecting us. It is easier for a state to protect us if they have strong protective laws on their books.
3)40 million jobs rely on intellectual property and their companies lose over $300 billion of cash every year. That means these companies offer less raises, less benefits, less marketing, less R&D as the bad actors steal our ideas without being halted because many states are not taking this seriously.
Some states get it - They are protecting our interest and deserve a special shout out! States with strongest statutes: Louisiana, New Jersey, and Vermont. Way to go protecting your innovation and job machines. If you are lucky enough to call these your home, let your representatives know that they are doing a good job protecting your secret sauce.