Defining appropriate Intellectual Property (IP) policy is a key industrial and social policy matter for Latin American governments. The IP interests of countries in Latin America may differ substantially from comparable interests in the United States, Europe and Asia, and IP interests among Latin American countries may differ. Many Latin American countries have a strong tradition of creative works covered by copyright, such as authorship of books, music and paintings. Most Latin American countries do not have a tradition of developing new chemical entities in the pharmaceutical sector, and patent rights are held almost exclusively by European, Japanese and US firms. Protection of trademarks and related "identifiers" is generally necessary for business, regardless of geographic location.Conceptually, Latin American countries may have interests in stronger IP protection for artists and authors, weaker IP protection for pharmaceutical enterprises, and shared business interests in the protection of trademarks. In all cases, education, research and other public access interests should be promoted. The specific tailoring of IP laws to suit the national interest is the "norm" in the United States and Europe, where the laws are constantly being readjusted.