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Study Demonstrates Economic Contributions of IP Industries
Innovation is a key determinant of the global competitiveness of American businesses. IP companies are those who produce intellectual property (IP) or who apply IP in producing their goods and services. IP companies contribute substantially to U.S. output and employment and generate a large number of well-paying jobs for both white- and blue-collar workers. Based on the latest U.S. offi cial data, we estimate that, in 2008, IP companies in manufacturing and nonmanufacturing sectors employed more than 19 million workers and accounted for 16.3 percent of U.S. employment. In the same year, IP companies generated about $7.7 trillion in gross output, accounting for 33.1 percent of U.S. gross output. Click here to read more of this report.