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27 October 2016Copyright

IP generates €5.7tn for EU economy, says report

A joint report by the European Patent Office (EPO) and European Union Intellectual Property Office (EUIPO) has found that intellectual property industries have generated €5.7 trillion ($6.2 trillion) annually in the EU.

The report, called “IP rights intensive industries and economic performance in the EU”, was published on Tuesday, October 25.

It is their second IP study on the EU economy in terms of GDP, wages and trade, and covers the years 2011 to 2013.

The report found that more than 42% of total economic activity in the EU—€5.7 trillion— is “generated” by IP-intensive industries annually. .

Approximately 38% of all employment in the EU, or 82 million jobs, stems from industries that have a “higher” than average use of IP rights.

On average over the set period, 60 million EU citizens were employed by IP-intensive industries.

The report added that average wages in IP industries are more than 46% higher than in other sectors.

In comparison to the organisations’ last report, which covered 2008 to 2010, the latest study revealed that the contribution by IP industries to the EU economy has increased “slightly” by 3%.

The share of employment has increased by 12% since the last study.

Benoît Battistelli, president of the EPO, said: “Our joint report again confirms the benefits of patents and other IPRs for the EU economy. Intangible assets are increasingly important for innovative companies today, especially for small and medium-sized enterprises, but also for research centres and universities.”

He added: “In order to remain competitive in the global economy, however, the EU needs to further encourage the development and use of new technology and innovations.”

António Campinos, executive director of the EUIPO, said: “The rapidly changing nature of business in the 21st century means that the EU and global economy relies strongly on IPRs such as trademarks, designs, patents and other rights.

“The current report shows this reliance is continuing to grow and that these rights are often used interdependently.”

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