Intellectual property is the DRIVER of economies and wealth creation around the world.
Over the last decade, study after study is confirming the wealth creating power of IP rights. It is the driver of economic growth, incomes, jobs, investment, and trade.
- 2005 – Economists Incorporated, “Engines of Growth: Economic Contributions of the US Intellectual Property Industries”
- 2006– Economic Report of the President, an essay titled “The Role of Intellectual Property in the Economy”
- 2010 – NDP Consulting, “The Impact of Innovation and the Role of Intellectual Property Rights on U.S. Productivity, Competitiveness, Jobs, Wages, and Exports”
- 2011 -NDP Consulting, “Employment and Gross Output of Intellectual Property Companies in the United States”
- 2011 – World Intellectual Property Organization’s “2011 World Intellectual Property Report: The Changing Face of Innovation”
- 2012 – U.S. Department of Commerce, “Intellectual Property and the U.S. Economy: Industries in Focus”
- 2012 – U.S. Chamber of Commerce Global Intellectual Property Center, “IP Creates Jobs for America”
Among the key findings of these reports is intellectual property-related industries (and businesses) tend to grow at about twice the rate of the economy.
This is a powerful message, especially if you are a business owner. It means your business and IP go hand in hand. It’s part of your competitive advantage and critical to your ongoing success.
Your IP is an important asset and effective IP management is essential to your business survival and growth. The question is what are you doing with your business IP? If the answer is nothing, than you are overlooking one of your biggest money-making opportunities.
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