IP-Intensive Industries Increase Contribution to US GDP, Commerce Says

Eighty-one IP-intensive industries contributed more than 38 percent of the U.S. gross domestic product in 2014 and supported about 30 percent of all jobs, the Department of Commerce said Monday in a report. The joint Patent and Trademark Office-Economics and Statistics Administration report said IP-intensive industries contribute more than $6 trillion to the U.S. GDP and support at least 45 million U.S. jobs. The report identified IP-intensive industries as those that use copyright, patent and trademark protections most extensively. IP-intensive industries’ proportional contribution to U.S. GDP increased from statistics in a 2012 Commerce report (see report in the April 12, 2012, issue), but those industries’ proportional contribution to overall U.S. jobs numbers dropped slightly, Commerce said.