USPTO REPORT: IP-INTENSIVE INDUSTRIES DROVE 44% OF U.S. GDP IN 2024
Yesterday the U.S. Patent and Trademark Office released its latest report on the economic contributions of IP-intensive industries, finding that 128 IP-intensive industries accounted for $11.4 trillion in U.S. gross domestic product, or 44% of total GDP, in 2024. The report also found that these industries directly employed 49.6 million workers, or 33% of total U.S. employment, and that combined with an additional 11% of employment supported indirectly through their supply chains, IP-intensive industries accounted for 44% of all U.S. private sector jobs.
The report found that information services and manufacturing were the sectors where IP-intensive industries contributed the most, with output and employment shares exceeding 90% and 80%, respectively. It also identified a wage premium of 53% for workers in IP-intensive industries overall, rising to roughly 130% in copyright-intensive industries and 90% in utility patent-intensive industries. On trade, 76 of the 104 U.S. commodity-exporting industries were IP-intensive, led by aerospace, petroleum, and pharmaceuticals, and together accounted for 81.5% of all U.S. commodity exports.
IPO ANNUAL MEETING SESSION: INDUCEMENT & INDIRECT INFRINGEMENT
Register for IPO’s Annual Meeting, September 27-29, and attend a session on “Inducement & Indirect Infringement: Navigating Launch Risk Across Industries,” organized by IPO’s Pharmaceutical & Biotechnology Issues; Asian Practice; European Practice; and Canadian Practice Committees. This session will explore how inducement and contributory infringement are interpreted across key jurisdictions. Beginning with the U.S. Supreme Court’s recent decision in Hikma Pharmaceuticals USA Inc. v. Amarin Pharma, Inc. on inducement in the context of pharmaceutical skinny labeling, the panel will broaden to cover cross-industry scenarios, examine how courts look beyond the product label to assess companies’ actual market conduct, intent, and how products are ultimately used. Speakers include FREDERICK CH’EN (Hogan Lovells), VIDISHA GARG (Anand and Anand Advocates), DANIELA GILL-CAREY (Astellas Pharma Europe Ltd), JOHN ROZENDAAL (Sterne, Kessler, Goldstein & Fox, PLLC), and ANDREW SHAUGHNESSY (Torys LLP). Visit the website for additional information and to register.
JOIN THE EUROPEAN PRACTICE COMMITTEE
European IP practice is undergoing major transformation, from the growth of the Unified Patent Court to evolving regulatory landscapes across the EU. IPO’s European Practice Committee is collaborating with other IPO committees on joint projects and actively advocating on new and proposed European IP regulations. Whether you practice before the UPC, EPO, national courts and patent offices, or advise clients with European portfolios, this committee offers valuable opportunities to engage and contribute. Apply to the European Practice Committee today at www.ipo.org/joinacommittee.