The TRIPS waiver expansion could further erode intellectual property protections that are the lifeblood of America’s small businesses and their ability to innovate, create jobs, and fuel the economy.
This week, NSBA submitted comments regarding the U.S. International Trade Commission’s Investigation No. 332 regarding “COVID-19 Diagnostics and Therapeutics, Supply, Demand, and TRIPS Agreement Flexibilities."
NSBA’s comments focused on the Trade-Related Aspects of Intellectual Property Rights (TRIPS) and the World Trade Organization’s investigation into whether this waiver should be expanded to COVID-19 diagnostics and treatments.
For how dramatically COVID-19 affected the global economy, a poor regulatory response has only intensified the headache for small-business owners, including their abilities to comply with constantly shifting regulations and standards.
“After a very turbulent two years under the COVID-19 pandemic and now economic contractions, the stakes for small business have never been higher,” NSBA President and CEO Todd McCracken wrote in opening paragraphs of the remarks. “That’s why, on behalf of NSBA members, I write in opposition to expanding the TRIPS waiver.”
Click here for more information on the TRIPS waiver and to read NSBA’s entire statement.