Patent Law Practice Center

IP Intensive Industries Support 40 Million Jobs, According to US Dept. of Commerce

Last week, the U.S. Department of Commerce released the report entitled, “Intellectual Property and the U.S. Economy: Industries in Focus,” which highlighted the connection between Intellectual Property intensive-industries along with job creation and its relation to the U.S. economy. The report by the Economics and Statistics Administration and the United States Patent and Trademark Office (USPTO) identified 75 industries (from among 313, total) as IP-intensive.

The findings support a message President Obama and USPTO director David Kappos have been reiterating for some time: innovation is the key to economic growth within the United States. According to the USPTO, “The report not only estimates the contributions of these industries to the U.S. economy, but also gauges the ripple, or domino, effects they have on employment throughout the economy.”  The report specifically found that: (more…)