The U.S. Chamber of Commerce's Global Intellectual Property Center (GIPC) recently embarked on a first-of its-kind study to examine how intellectual property contributes to the overall economic outlook for all 50 states and the District of Columbia. Taken together, the data has revealed that IP-intensive industries account for 55.7 million direct and indirect jobs, $5 trillion in national gross domestic product and 74 percent of total American exports.
IP-intensive companies gained their distinction as a factor of research and development spending, scientist and engineer staffing and total quality and scope of intellectual property portfolios.
"Intellectual property's economic contributions are evident across all states, large and small," said GIPC executive vice president Mark Elliot. "For instance, nearly 90 percent of Delaware's exports originate from IP-intensive companies as do half of Iowa's private sector jobs. In Kansas, IP-intensive companies produce $51.1 billion in output."
With this study, Elliot added that his team has completed an important task in revealing the value of intellectual assets in a context beyond commercial supply chains. As the country continues its march back from recession, the figures also underscore the role of IP-intensive companies in putting Americans back to work in sustainable careers.