Qualcomm’s 2023 Corporate Responsibility Report: Public Policy and Regulation

Rhea-AI Summary

Qualcomm's 2023 Corporate Responsibility Report highlights their commitment to fostering innovation, supporting business-friendly policies, and advancing technology globally. They emphasize key public policy topics such as 5G, invention and IP, spectrum, privacy, immigration, and taxation. The report outlines their principles in public policy, which include participation, responsible governance, and transparency. Qualcomm's initiatives include the launch of The Inventor's Patent Academy to support diverse inventors. The company also addresses challenges in talent acquisition due to stringent immigration laws and emphasizes the need for policies that support a comprehensive 5G rollout to create significant economic impact. Additionally, Qualcomm focuses on environmental sustainability, aiming for collective action and corporate leadership.

Positive

• Qualcomm's strategic focus on 5G is projected to generate $13.1 trillion in global sales by 2035.
• Launch of The Inventor's Patent Academy reached nearly 1,400 students, with significant participation from underrepresented minorities.
• Enhanced transparency in political contributions, disclosed to the Federal Elections Commission.
• Commitment to environmental sustainability, aiming for significant social and environmental benefits.
• Implementation of responsible governance in political contributions, overseen by senior management and the Board's Governance Committee.

Negative

• Challenges in recruiting top international talent due to stringent immigration laws.
• The need for continued advocacy to ensure supportive policies for a comprehensive 5G rollout.
• Dependence on global patent systems for innovation, which may face varying levels of enforcement and protection internationally.

NORTHAMPTON, MA / ACCESSWIRE / May 23, 2024 / Qualcomm:

Originally published in Qualcomm's 2023 Corporate Responsibility Report

We have been a committed partner to countries around the world for more than 30 years, supporting policies that encourage innovation, foster the advancement of technology and enable business-friendly environments globally. With each new generation of wireless connectivity, we strive to create shared success in collaboration with lawmakers and regulators and to create new opportunities for local industries and communities.

We implement our public policy approach around four key principles:

• Participation: We engage in policy discussions with governments, organizations and industries around the world to advocate for policies that promote innovation and protect and foster new ideas in connectivity. We are committed to helping policymakers at all levels understand our business model and role as an ecosystem enabler.
• Responsible Governance: We abide by all applicable laws and regulations regarding political contributions and expenditures, and our contributions are subject to the approval of our senior management with oversight by the Governance Committee of our Board of Directors.
• Transparency: We publicly disclose to the Federal Elections Commission all political contributions made by our Company and our Political Action Committee, and we abide by all legal obligations of the FCPA and similar legislation around the world.
• Policy Guides: We carefully monitor and evaluate developments that affect the world of connectivity. Our key public policy topics are 5G, invention and IP, spectrum, privacy, immigration and taxation. Our general positions are outlined below and published on our public policy website.

Key public policy topics

• 5G: 5G is a unified connectivity fabric that we believe will continue to transform industries, create jobs and usher in an estimated $13.1 trillion in global sales activity in 2035.17 To achieve these benefits, we believe governments must continue to adopt policies that support a comprehensive 5G rollout plan.
• Invention and IP: Invention, innovation and protection of IP are core drivers of economic growth and competitiveness. Without robust patent systems and strong global protection of IP, innovation would be significantly weakened.
• Spectrum: The benefits of wireless connectivity depend on the availability of adequate and appropriate radio spectrum. We believe in freeing new spectrum in a responsible way to meet the demands of consumers and businesses.
• Privacy: We believe that cultivating consumer trust through a foundation of security and privacy practices helps drive broader adoption and more personalized wireless technology offerings.
• Immigration: Highly skilled talent, especially in the areas of math, engineering and the sciences, is vital to the success of our Company and to the future of technological innovation around the world.
• Taxation: We support policies that incentivize innovation and enable American technology companies to compete in today's global marketplace.
• Environmental Sustainability: Our technologies, our business model and our role as a driver of technology transformation can support communities, governments and other stakeholders in a transition towards a more sustainable future.

Our public policy position on climate change and environmental sustainability, published in 2023, can be found on our public policy webpage. We believe that environmental sustainability is a societal imperative. The conservation and protection of natural resources and global ecosystems yields significant social and environmental benefits for present and future generations. These benefits require collective action and leadership from corporate citizens.

Our Global Tax Strategy highlights our commitment to being a responsible and transparent corporate citizen. Our approach to tax is consistent with our CoBC and Code of Ethics and is premised on complying with applicable tax laws, maximizing stockholder value and delivering transparent tax reporting and disclosures. We also seek to pay the requisite taxes on profits generated from the activities performed in each jurisdiction.

"We are committed to helping policymakers at all levels understand our business model and role as an ecosystem enabler."

Implementing our business strategy requires specialized engineering and other talent, as our revenues are highly dependent on technological and product innovations. To attract top talent, we must be able to hire top engineers, regardless of their country of origin. Beyond fierce competition for talent across our industry and with our competitors, existing immigration laws make it more difficult for us to recruit and retain highly skilled foreign nationals, making the pool of available talent even smaller.

We engage in public policy efforts to support regulations that are aligned to today's economic reality. Our Government Affairs team participates in diverse advocacy efforts that contribute to immigration laws that support our Company's ability to develop leading-edge technologies specifically and our innovation-based global economy in general. Our advocacy efforts, as they relate to immigration laws and recruiting a global workforce, are generally implemented through collaborations with trade associations and diverse coalitions of employers. For more information on our approach to managing a diverse highly skilled workforce, please see our SASB Index.

Fostering a more accessible patent ecosystem for all

Our belief that the U.S. patent system should reflect the diversity of this country is stronger than ever. We know that diversifying who is inventing and patenting can create more jobs, boost the national economy, close wage and wealth gaps and enable the U.S. to remain a global leader in innovation. We are actively working within our Company and externally to create equitable opportunities for all.

Last year, we announced, in collaboration with Invent Together, the launch of The Inventor's Patent Academy (TIPA). TIPA is a free mobile-friendly course that guides inventors through the process of protecting their inventions through patenting. The e-learning course readies innovators to apply for their own patents, offering actionable advice for overcoming obstacles and navigating the system. It also shares real-life stories of inventors and how they surmounted challenges and brought their ideas to life. It gives inventors a solid understanding of patent law and the patent filing process.

Since its launch, TIPA has already reached close to 1,400 students. Two-third of those students responded to an optional survey to help TIPA better understand the profile and satisfaction of participants. Around three quarters of survey respondents highlighted being from historically URM and over 40 percent were women, 70 percent of whom were women of color. The United States Patent and Trademark Office's (USPTO's) First-Time Filer Expedited Examination Pilot Program is using TIPA as a learning resource. Students come from all sectors of the economy, including government, higher education, startups and accelerators and private corporations. Nearly a quarter are individual inventors. We are proud of this strong start and intend to continue outreach to our target audiences as we acquire more students.

At Qualcomm, we leveraged our diversity-oriented employee resources, including providing a new inventors' workshop series entitled "Cultivating Innovation." These workshops were a collaboration between our IP Department, Government Affairs and employee networks, with the goal of increasing diversity in innovation within the Company. We provided 16 events, including a workshop on TIPA, as part of that series. More than 90 percent of participants agreed that course material addressing systemic barriers to patenting and patent law content was useful and relevant. Given the positive feedback and our large engineering population, we are exploring ways to offer the course more broadly within the Company.

We are thankful for the help in our recruiting from Invent Together partner organizations like AnitaB.org, the Society of Women Engineers and the Native American Intellectual Property Enterprise Council. We are equally grateful that the USPTO has linked to the TIPA program on its website, featuring it as a learning resource for the USPTO's new First-Time Filer Expedited Examination Pilot Program.

This past year, we also implemented updates and improvements in the content of the online course. For example, we incorporated user feedback and now provide an enhanced smartphone experience, updated voice-narration, learning capsules, improved accessibility and additional inventor resources including information on the patent pro-bono program. The enhancements and updates to TIPA will further our Company's commitment to enabling the accessibility of the inventing and patenting process for all. We firmly believe that empowering inventors with robust patent rights enables them to transform the world for the benefit of all.

Learn more about how Qualcomm is driving innovation, societal advancement and sustainability in the 2023 Corporate Responsibility Report

View additional multimedia and more ESG storytelling from Qualcomm on 3blmedia.com.

Contact Info:

Spokesperson: Qualcomm
Website: https://www.3blmedia.com/profiles/qualcomm
Email: info@3blmedia.com

SOURCE: Qualcomm

View the original press release on accesswire.com

FAQ

What are Qualcomm's key public policy topics?

Qualcomm's key public policy topics include 5G, invention and IP, spectrum, privacy, immigration, and taxation.

How does Qualcomm support innovation?

Qualcomm supports innovation through policies that promote 5G rollout, robust patent systems, and programs like The Inventor's Patent Academy.

What is Qualcomm's stance on immigration?

Qualcomm emphasizes the importance of highly skilled talent for innovation and advocates for immigration laws that facilitate the hiring of top engineers regardless of origin.

What are Qualcomm's principles in public policy?

Qualcomm's public policy principles include participation in policy discussions, responsible governance, and transparency in political contributions.

How does Qualcomm address environmental sustainability?

Qualcomm is committed to environmental sustainability, emphasizing the conservation of natural resources and collective corporate action for societal benefits.