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Patent Attorney Axel H Horns' Blog on Intellectual Property Law.

 

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Saturday, November 19, 2005

 

U.S.: Report Shows Protection of Intellectual Property is Critical to the Economy.

A EXTERNAL LINKvery interesting posting on EXTERNAL LINKpatentbaristas.com:
"[...] Forbes recently ran an article showing that companies that generate revenue from products protected by copyrights or patents are vital to the U.S. economy. In a report, NBC Universal Chief Executive Bob Wright released the results of the study he commissioned, which shows that digital piracy, if not reined in, could cause the U.S. economy to stall.

The study, conducted by Washington, D.C.-based Economists Incorporated, found that U.S. intellectual property-oriented industries - from software firms to aerospace and pharmaceutical companies - are vital to the U.S. economy for the following five reasons:
  • They contribute nearly 40% of the growth achieved by all U.S. private industry and nearly 60% of the growth of U.S. exportable products and services.
  • Ten-year gross domestic product estimates would be about 30% lower than current projections without the contributions of these industries.
  • These industries are responsible for 20% of the total U.S. private-industry contribution to gross domestic product, and 40% of the contribution of U.S. exportable products to gross domestic product.
  • These industries are among the nation's highest-paying employers, with 18 million workers earning 40% more than all U.S. workers.
  • The core copyright industries, such as music and filmed entertainment, in 2003 contributed $33 billion in net export revenue, while the patent-dependent aerospace industry reported another $32 billion in export revenue during the same period.
The report shows that the protection of intellectual property is critical to the economy and that it's not just these companies who are benefiting. [...]"
The study is available EXTERNAL LINKhere.

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