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New Study: IP intensive industry Boosts EU Economic Growth

October 9, 2013
Categories: Intellectual Property

New Study: IP intensive industry Boosts EU Economic Growth

The Office for Harmonization in the Internal Market (OHIM) and the European Patent Office (EPO) have released a study measuring the effect of IP intensive industries on the European Union’s economy.

The study includes data on how these industries contribute to economic performance and trade. Some highlights of the study according to OHIM include the following:

  • About 50% of EU industries are IPR intensive
  • IPR-intensive industries account directly for 26% of all jobs in the EU – around 56 million direct jobs. With the addition of 20 million indirect jobs, 1 in 3 of all EU jobs rely on IPR intensive industries.
  • These industries generated almost 39% of total economic activity (GDP) in the EU, worth €4.7 trillion
  • IPR-intensive industries account for 90% of the EU’s trade with the rest of the world

For more information and results from the study visit the OHIM website here.

The EU-focused news outlet and blogging site, www.euractiv.com, reports on the study that “More than a third (35%) of European jobs rely on IPR..”

The site quotes Internal Markets Commissioner as stating that,  “…intellectual property rights play a hugely important role in stimulating innovation and creativity, and I welcome the publication of this study. 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..”

For access to the rest of the article click here.

Sources: www.euractive.com

www.oami.europa.eu

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