With over $12 billion in international venture capital invested in artificial intelligence (AI) during the first half of 2023, and the continuing rapid proliferation of various AI tools, the need for uniform AI values and principles continues to grow. On Oct. 30, President Joe Biden announced an expansive executive order that puts forth the administration's fundamental principles for AI governance and seeks to better prepare the federal government to mitigate potential negative consequences of AI's spread. The order addresses these risks across various dimensions, including safety and security, privacy, equity and civil rights. While the order takes no concrete action on pressing intellectual property (IP) issues raised by the proliferation of AI, it directs the U.S. Patent and Trademark Office (USPTO) and the Copyright Office to provide prompt recommendations for new agency guidance and future executive action to address IP concerns such as about the ownership, patentability, and copyrightability of AI outputs and the scope of protection to creators and inventors whose works are used in AI training.