Posted on Monday 11 November 2019 by Cruickshank Intellectual Property
In a joint study undertaken by the European Patent Office (EPO) and the European Union Intellectual Property Office (EUIPO) over 29% of jobs between 2014-2016 within the European Union were made up of Intellectual Property Rights (IPR) intensive industries. The 2019 edition of the study covers the period from 2014-2016 and details the economic contribution made to the EU economy by industries which make extensive use of their intellectual property rights available to them in the form of patent, trade mark and design protection.
Key trends show increase from previous report
The figures in this updated study show that shares of these industries in EU employment and GDP statistics are higher than the previous report. IPR intensive industries generated almost 45% of total GDP in the EU with a value of €6.6 trillion. These industries also contribute around 81% in trade for goods and services in the EU and regions around the world.
Industries which make use of their patent protection employ around 24 million people and generate 16% of the EU’s total GDP while those with trade mark protection contribute 37% to the EU’s GDP and provide over 46 million jobs.
Intellectual property rights play a crucial role for the EU
Following the publication Executive Director of the EUIPO Christian Archambeau stated that “Industries that use intellectual property rights intensively play a crucial role in making the EU more prosperous and in securing its economic future. These industries are more resilient in the face of economic crisis and more innovative.”
This joint report raises awareness about the value of intellectual property and how IP rights play an integral role in the progression and development of EU companies. It highlights the significance innovative companies must place on their intangible asset in order to encourage future growth and evolution.
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