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Investments in IP worth £65 billion a year
By CMU Editorial | Published on Wednesday 13 July 2011
Investments made by UK businesses in products and services that are protected by intellectual property rights are worth £65 billion a year. Yeah, get your head around that.
We know this because of two reports commissioned by the Intellectual Property Office, the results of which were revealed last week. The figure covers investments in all kinds of IP, including trademarks, designs and patents, though copyright accounted for the biggest chunk.
The stats mean that the value of the IP industry has more than doubled since 1990, and that in the last ten years investment in intellectual property has been bigger than business investment in fixed capital. The report also shows that £3 billion of copyright investment has not previously been accounted for in government figures, and the IPO now plans to work with the Office of National Statistics to rectify that.
IP Minister Baroness Wilcox told reporters: “These reports show that business investment in intellectual property rights has more than doubled since 1990 and were worth at least £65 billion in 2008, a figure which is expected to continue to grow. This is a significant amount of growth and it’s important that this investment continues to build over the coming years”.
