Release Date: Apr 11, 2012Contact: 888-249-NEWS
U.S. Chamber Highlights Role of IP in Creating Jobs, Strengthening America’s Global Competitiveness
WASHINGTON, D.C. — Speaking at an event hosted by the White House today, U.S. Chamber of Commerce President and CEO Thomas J. Donohue hailed intellectual property (IP) as a catalyst to America’s job creation and economic growth. Donohue pledged to continue to work with all stakeholders to champion IP protection at home and abroad while highlighting the findings of Intellectual Property and the U.S. Economy: Industries in Focus report—an economic study by the U.S. Department of Commerce that ties employment and value-added numbers to IP-intensive industries.
“If we’re going to continue to be the most innovative economy on Earth, we must ensure that American IP-intensive industries remain confident that their copyrights, patents, and trademarks will be enforced,” said Donohue. “The Commerce Department’s new study demonstrates that 40 million jobs also hinge on the proper and adequate enforcement of IP rights, which are frequently threatened by criminal organizations overseas. It’s a challenge we must tackle together.”
The report looks at 75 IP-intensive industries that together directly and indirectly employed 40 million workers with average weekly wages that are 42% higher than those of non-IP-intensive industries. According to the report, IP-intensive industries accounted for $5.0 trillion in value added, representing 35.5% of U.S. gross domestic product in 2009. Additionally, in 2010, merchandise exports of IP-intensive industries totaled $775 billion, equating to 60.7% of total U.S. merchandise exports.
“As we’ve been saying all along—IP supports jobs, spurs growth, and drives innovation,” added Donohue. “We’ll continue to champion IP protection through the U.S. Chamber’s Global Intellectual Property Center, and we look forward to working with all of the stakeholders and the administration on this vital issue.”
The Chamber’s Global Intellectual Property Center is working around the world to champion intellectual property (IP) rights as vital to creating jobs, saving lives, advancing global economic growth, and generating breakthrough solutions to global challenges.
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.