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Old 12-24-2013, 11:43 PM   #1
LXer
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LXer: Vast Majority Of US Businesses Say Intellectual Property Is Not Important


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Last year, the USPTO released a widely cited report entitled “Intellectual Property and the U.S. Economy: Industries in Focus.” This report emphasized the importance of IP to the U.S. economy, claiming “the entire U.S. economy relies on some form of IP,” and estimating that “IP-intensive industries” accounted for 40 million American jobs and 35% of the U.S. GDP in 2010.While many pro-IP groups hailed the report as demonstrating the importance of IP to the American economy, the report was widely panned by critics who pointed out that the definition of “IP-intensive industries” was so broad as to be meaningless. Indeed, according to the report, the number one IP-intensive industry by employment in the United States was… grocery stores.

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