Intellectual Property and the U.S. Economy: Industries in Focus

The US Commerce Department has released Intellectual Property and the U.S. Economy: Industries in Focus.

Here's an excerpt from the press release:

While IP is used in virtually every segment of the U.S. economy, the report identifies the 75 industries that use patent, copyright, or trademark protections most extensively. These "IP-intensive industries" are the source—directly or indirectly—of 40 million jobs. That's more than a quarter of all the jobs in this country. Some of the most IP-intensive industries include: Computer and peripheral equipment, audio and video equipment manufacturing, newspaper and book publishers, Pharmaceutical and medicines, Semiconductor and other electronic components, and the Medical equipment space. . . .

The report has several important findings, including:

  • IP-intensive industries contributed $5.06 trillion to the U.S. economy or 34.8 percent of GDP in 2010.
  • 40 million jobs, or 27.7 percent of all jobs, were directly or indirectly attributable to the most IP-intensive industries in 2010.
  • Between 2010 and 2011, the economic recovery led to a 1.6 percent increase in direct employment in IP-intensive industries, faster than the 1.0 percent growth in non-IP-intensive industries.

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Author: Charles W. Bailey, Jr.

Charles W. Bailey, Jr.