The EPO released a report on September 30th detailing the effect of Intellectual Property Rights on the economy in the European Union. The publication looked at the impact of IPR in terms of GDP, employment, wages and trade. The study concluded that an overwhelming 40% of all economic activity in Europe is generated by IPR industries. Broken down, this accounts for €4.7 trillion generated in income and 77 million jobs, or 35% of all current employment.
Internal Market and Services Commissioner Michel Barnier explained how these IP related industries impact all sectors of the economy: “I am convinced that intellectual property rights play a hugely important role in stimulating innovation and creativity, and I welcome the publication of this study. It will help us to further underpin our evidence-based policy making. What this study shows us is that the use of intellectual property rights in the economy is ubiquitous: from high-tech industries to manufacturers of sports goods, games, toys and computer games, all are making intensive use of not just one, but often several types of IP rights.”
The study, Intellectual Property Rights intensive industries: contribution to economic performance and employment in Europe, focuses on all facets of Intellectual Property including patents, trademarks, designs, and copyrights . The publication covers over 300 industries (engineering, real estate, manufacturing of cars, retail, computers and pharmaceuticals to name a few). As this report concludes, almost half of all EU industries are IP-intensive and 90% of Europe’s trade with the rest of the globe is as a result of these industries.