Intellectual property is a hot topic in California, as many of the state's most prosperous regions depend on it for their revenue and success. For example, San Diego is the second most inventive city in the world, according to U-T San Diego. For every 10,000 residents, the city files 8.9 new patents, according to the Organization for Economic Co-Operation and Development.
U-T San Diego reports that intellectual property industries add $922.8 billion to California's economy, and that the state's creative businesses offer salaries 37 percent higher than positions in other fields. California is the top exporting state, accounting for 10 percent of American exports - intellectual property enables this success. The city of San Diego itself houses more than 700 life-sciences companies and 80 research institutions that employ 34,000 residents in total.
The economic impact of a strong intellectual property sector is visible in California, from its technology firms to the entertainment industry. These industries not only make money and bolster the state economy, but also employ workers who are well paid and in turn stimulate the economy as well. Without a strong policy across many businesses of smart intellectual property management, California would not be the economic and innovative powerhouse it currently is.