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Report Examines Economic Impact of IP in the U.S. Economy, USTPO Releases IP Assessment Tool

April 18, 2012

Intellectual property-intensive industries contribute approximately $5 Trillion to U.S. Economy and at least 40 million jobs, according to a new U.S. Patent and Trademark Office (USPTO) report — Intellectual Property and the U.S. Economy: Industries in Focus. The report highlights 75 industries that use several forms of intellectual property (IP) protections (i.e., patents, copyrights and trademarks) most extensively. Using several economic impact indicators, the authors found that these industries were key drivers of the U.S. economy in 2010 including:

  • Approximately 25 percent of U.S. jobs are supported by these industries, through both direct and indirect employment;
  • IP-intensive industries accounted for about $5 trillion in value added (34.8 percent) of U.S. gross domestic product;
  • IP-intensive industries account for 60 percent of all U.S. exports;
  • For every two jobs in IP-intensive industries an additional one job was created; and,
  • Overall growth of IP-intensive industry employment grew by 2.3 percent between 1900 and 2011.

In comparison to other industries in the U.S. economy (approximately 238 total), IP-intensive industries performed significantly better in 2010 in several economic impact indicators including:

  • Direct employment in IP-intensive industries (1.6 percent increase) grew faster than other private industries (1.0 percent); and,
  • Average weekly wages for IP-intensive industries ($1,156) were 42 percent higher than the other private industries ($815);

The report also highlights the importance of educational achievement for IP-intensive industries. More than 42 percent of workers aged 25 were college educated, compared with 34 percent on average in non-IP intensive industries. Read the report

The USPTO in partnership with the Manufacturing Extension Partnership also launched a web-based intellectual property (IP) awareness assessment tool designed to help manufacturers, small businesses, entrepreneurs and independent inventors easily assess their knowledge of IP. The tool provides users a comprehensive set of questions regarding IP relevant to their specific project and business goals. After completing the questionnaire, the tool provides a set of training resources tailored to specifically identified needs. The tool is available on USPTO’s website.

dept of commerce, intellectual property