Biden Says Copyright Part of Nurturing Innovation

Vice President Joe Biden said the Obama administration’s effort to nurture innovation as a path to economic growth includes protecting intellectual property rights.

The administration “is deeply committed” to making sure creative ideas and products “reach their full potential without being stolen, co-opted or quite frankly compromised,” Biden said today in Washington before a meeting that included motion picture and pharmaceutical executives.

President Barack Obama made innovation and research a key part of his State of the Union address this week. He also listed the protection of intellectual property rights among his concerns with China during the official state visit of Chinese President Hu Jintao Jan. 19.

“We believe there is no reason why the United States cannot remain the most powerful economic force of the 21st century” with new industries created by investment in innovation and education, Biden said.

Executives at today’s meeting include Verizon Communications Inc. Chairman Ivan Seidenberg, MasterCard Inc. Chief Executive Officer Ajay Banga, Eli Lilly & Co. Chief Executive Officer John Leichleiter and Fox Filmed Entertainment Co-Chairman Thomas Rothman.

The executives were joined by administration officials, including Attorney General Eric Holder, Commerce Secretary Gary Locke, and Office of Management and Budget Director Jack Lew to discuss greater protection for copyrighted material including films and music.

About 8 percent of the bulk drugs imported to the U.S. are counterfeit, unapproved or substandard, and 10 percent of global pharmaceutical commerce involves counterfeit drugs, the administration said in a report last year, citing United Nations figures. Counterfeiting threatens the integrity of protective vests, aircraft engines and automobile tires, Biden said as the report was issued in June.

In the report the administration said it would strengthen enforcement of intellectual property rights, with steps including coordinating police work and increased training for state and local law enforcement officials.

“It’s a matter of economic opportunity and it’s also a matter for public safety and national security,” Biden said today.

Cyber Crime

The U.S. plans a diplomatic push to get more countries to join in cyber-crime investigations, Howard Schmidt, the top White House cyber-security official, said Jan. 25.

Schmidt said that “in the very near future” the administration will develop “specific efforts” to work with other countries to ensure they help hunt down criminals who steal information and data using computers, he said.

Other participants in today’s discussion included Autodesk Inc. CEO Carl Bass, Concord Music Group Inc. CEO Glen Barros, senior Obama adviser Valerie Jarrett, U.S. Intellectual Property Enforcement Coordinator Victoria Espinel, and Commissioner of Food and Drugs Margaret Hamburg.

To contact the reporters on this story: Kate Andersen Brower in Washington at Kandersen7@bloomberg.net; Todd Shields in Washington at tshields3@bloomberg.net

To contact the editor responsible for this story: Mark Silva at msilva@bloomberg.net