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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Rand Brenner is an IP professional whose passion is helping inventors, startups, and businesses of all sizes use licensing to turn their IP into income-producing products, services, and technologies. His decades of experience run the gamut from medical devices to food technology to consumer products. He’s licensed some of the biggest Hollywood entertainment blockbusters including the Batman Movies (1 and 2), and the number one kid’s action TV show, the Mighty Morphin Power Rangers. Rand speaks about licensing and is a featured speaker at investment conferences, trade shows, colleges, and startup events. He’s a published writer with articles appearing in several prestigious trade magazine including The Licensing Journal, Intellectual Property Magazine, and License India. Rand also mentors at the Cal State Fullerton School of Business and Economics and is a judge for their startup business plan competitions.