2: Innovation and Industrial Competitiveness

Promote U.S. innovation and industrial competitiveness

Other Information:

The Department’s second strategic goal focuses on providing the infrastructure that will enable U.S. businesses to maintain their technological advantage in world markets. Globalization and recent technology-driven productivity gains provide new challenges. Continued partnership, collaboration, and cooperation between the Department and industry will further promote the Nation’s technological edge. Intellectual property (IP) is a potent force in, and a fundamental component of, the global economy. A recent study shows that 75 percent of the value of publicly traded U.S. companies—some $5 trillion—comes from “intangible” assets such as brands, copyrights, and patents. In recognition of the importance of innovation to the United States’ economic future, a priority area for the Department is to play a key role in the American Competitiveness Initiative (ACI) aimed at keeping the United States strong and secure by ensuring that it continues to lead the world in science and technology (S&T). The Department is committed to working with Congress to successfully pass and implement all of the components of ACI, including making permanent the research and development (R&D) tax credit and improving math and science education. The ACI identified the National Institute of Standards and Technology (NIST) as one of three key federal agencies that support basic research programs in the physical sciences and engineering. NIST research laboratories focus on providing the measurements, standards, verified data, and test methods necessary to support the development of new technologies and to promote the competitive standing of the United States in the global economy. The world class scientific and technical staff works closely with private industry, academic researchers, and other government agencies.

Objective(s):

2.1: Measurement Science and Standards

2.2: Intellectual Property, Patents, and Trade Marks

2.3: E-Commerce, Telecommunications, and Information Services

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