$5 Trillion + 40 Million Jobs in USA attributed to IP

The USPTO has reported that Intellectual Property intensive industries are contributing up to USD$5 Trillion together with up to 40 Million jobs to the US economy.

The Intellectual Property and the US Economy: Industries in Focus report issued from the Department of Commerce was the first comprehensive report which has equated USPTO administrative data against US industries using intellectual property intensively.

There were 75 industries that were indicated as “IP-Intensive” in the US and the report major findings included:

>    The entire U.S. economy relies on some form of IP, because virtually every industry either produces or uses it.

>    IP-intensive industries accounted for about US$5.06 trillion in value added, or 34.8% of U.S. gross domestic product (GDP), in 2010. Merchandise exports of IP-intensive industries totalled US$775 billion in 2010, accounting for 60.7% of total U.S. merchandise exports.

>    IP-intensive industries directly accounted for 27.1 million American jobs, or 18.8% of all employment in the economy, in 2010.

>    A substantial share of IP-intensive employment in the U.S. was in the 60 trademark-intensive industries, with 22.6 million jobs in 2010. The 26 patent-intensive industries accounted for 3.9 million jobs in 2010, while the 13 copyright-intensive industries provided 5.1 million jobs.

>   Growth in copyright-intensive industries (2.4 %), patent-intensive industries (2.3%), and trademark-intensive industries (1.1%) all outpaced gains in non-IP-intensive industries.

>    Data on foreign trade of IP-intensive service-providing industries is limited. However, this report does find that exports of IP-intensive service-providing industries accounted for approximately 19% of total U.S. private services exports in 2007.

Further details and the full report can be accessed here.