This indicator captures the
financial transactions between residents and nonresidents pertaining to the authorized utilization of intellectual property rights, embracing a broad spectrum of proprietary assets such as patents, trademarks, copyrights, and industrial designs. It encompasses payments for licensing arrangements on original works, including literary and artistic creations, software, and audiovisual productions, as well as the rights associated with live performances and broadcasts. Moreover, this metric serves as a vital barometer for a country's innovation landscape, reflecting its
engagement with creative industries and the
value attributed to intangible assets in the global marketplace. The data is presented in current U.S. dollars, providing a standardized measure for comparative analysis across countries and time periods.
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