As prescription drugs from major manufacturers like Pfizer and Merck prepare to come off patent, stakeholders on all sides of the healthcare community are coming to understand the relationship between intellectual property and the economics of the industry. However, following the release of a new survey detailing a critical shortage of cancer drugs in American hospitals, a variety of misunderstandings have converged to make the patent system an undeserving scapegoat for the issues at hand.

The current class of U.S. legislators is keenly aware of the role intellectual property plays in supporting global competitiveness, as evidenced by the passage of the first large-scale patent system reforms in five decades with the America Invents Act. However, reports have emerged to suggest that Congressional leaders may be willing to limit the functionality of current intellectual property frameworks in the interest of economic security.

As world leaders return to their respective countries following the recent G-8 summit, intellectual property protection is expected to be on the minds of many as they set agendas for the rest of the year. According to IP Watch, delegates agreed that more effective patent management frameworks will be needed to eliminate the scourge of counterfeit medicines.

As a leading conduit of internet activity, online search pioneer Google has found itself in the role of copyright enforcement agent in recent years as digital pirates continue to craft more elaborate and damaging plots. In the latest Google Transparency Report, the company has provided extensive detail on both the volume and source of requests it receives asking for infringing material to be taken out of search results.

The U.S. Chamber of Commerce's Global Intellectual Property Center (GIPC) recently embarked on a first-of its-kind study to examine how intellectual property contributes to the overall economic outlook for all 50 states and the District of Columbia. Taken together, the data has revealed that IP-intensive industries account for 55.7 million direct and indirect jobs, $5 trillion in national gross domestic product and 74 percent of total American exports.

Earlier this year, the University of New Hampshire School of Law Library received the distinction of being named to the U.S. Patent and Trademark Office's roster of Patent and Trademark Resource Centers (PTRCs). This week, the facility officially opened for business and will begin advising local citizens on how best to manage their intellectual assets.

Securing intellectual property protections in foreign markets is becoming increasingly important - and lucrative - in this globalized economy. But to ensure companies and sole inventors are going about the process in the most cost-efficient manner possible, a strong understanding of the filing framework is essential.

For better or worse, the contentious litigation surrounding big-name technology companies and smartphone patents has become synonymous with the intellectual property community in recent months. But although some industry insiders have lamented this development, U.S. Patent and Trademark Office director David Kappos has taken it all as an encouraging indicator.

With self-reliance and ingenuity so often associated with the entrepreneurial spirit, it is not surprising to see sole inventors going it alone once again when it comes to trademark management. But according to IP Watchdog contributor Mark Malek, frugality in this arena may be more hassle than it is worth.

Considering the fact the Google does not actually manufacture a tangible, physical product of its own without the assistance of others, it's hard to imagine a company that has more of its value tied up in intellectual assets. As such, the search engine giant has been particularly vigilant when it comes to patent and trademark management.