Extract from “Trans-Pacific Partnership is a wonderful idea – for China”

Second, the TPP increases both uncertainty and risk for individuals and companies who want to launch new products and services, which is the essence of innovation.

The TPP significantly increases both risk and uncertainty. It strengthens and adds rigidity to the current U.S. system of intellectual property rights, which economists have repeatedly found to slow down innovation. It adds several badly written, ambiguous trade-secret propositions to the law, and it makes some supposed intellectual property rights infringements into criminal offences. This perfect pincer manoeuvre would not only make it more expensive for entrepreneurs to bring new products and services to market, but it would also increase the personal risk they face (from financial bankruptcy to prison) to levels that deter even the hardiest from attempting to innovate.

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