In September, the European Commission published a study that considered the effects of intellectual property rights on the European Union. The study looked at gross domestic product, wages, employment and trade. The results showed just how important IP is for business.
According to the bodies that commissioned the study, the Commission’s Office for Harmonization in the Internal Market, the EU Observatory and the European Patent Office, IP plays a large role in economic growth. Forty percent of all economic activity in the EU is created in IP-intensive industries, and about 35 percent of all work in the EU is related to industries that rely heavily on IP.