Report demonstrates the economic significance of Intellectual Property
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Report demonstrates the economic significance of Intellectual Property
A recent report published by the Office of Harmonization for the Internal Market (OHIM) and the European Patent Office (EPO) has demonstrated the significant contribution to economic performance and employment in the European Union by Intellectual Property Rights-intensive industries.
Intellectual Property Rights-intensive industries are those industries which have an above average use of Intellectual Property Rights per employee. These rights can range from businesses registering their logos and signs under trade marks to protecting their inventions by obtaining patents.
All businesses looking to increase their profits should be aware that the report found that between 2008 and 2010:-
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Intellectual Property Rights-intensive industries directly and indirectly generated employment of 35{ba3215b0bf35eaeb06be458b3396ffbfc50bb9db10c9ff1594dfc3875e90ea48} of all EU jobs;
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Intellectual Property Rights-intensive industries generated almost 39{ba3215b0bf35eaeb06be458b3396ffbfc50bb9db10c9ff1594dfc3875e90ea48} of total economic activity into the EU (4.7 trillion Euros);
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The average weekly wage in Intellectual Property Rights-intensive industries was 715 Euros compared with 507 Euros in non- Intellectual Property Rights-intensive industries; and
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90{ba3215b0bf35eaeb06be458b3396ffbfc50bb9db10c9ff1594dfc3875e90ea48} of EU exports were performed by Intellectual Property Rights-intensive industries.
It’s our view that all businesses should be identifying and exploiting their Intellectual Property and it will be interesting to see if these figures increase substantially in future reports as we would expect.
If you would like to discuss protecting your business’ intellectual property and help grow your business please contact laura.trapnell@parissmith.co.uk.