USPTO report highlights IP-intensive industries’ $11.4 trillion contribution to the US economy

The United States Patent and Trademark Office (USPTO) has released the latest edition of its flagship report examining the economic impact of intellectual property (IP)-intensive industries, revealing that sectors reliant on patents, trademarks, and copyrights generated USD 11.4 trillion in economic output during 2024.

The report, Intellectual Property and the U.S. Economy in 2024, found that 128 IP-intensive industries accounted for 44% of total US gross domestic product (GDP), underscoring the continued importance of intellectual property rights in driving innovation, employment, and international competitiveness.

Commenting on the findings, John A. Squires, Under Secretary of Commerce for Intellectual Property and Director of the USPTO, emphasized the growing significance of IP-intensive industries to the American economy.

“Intellectual property rights are indispensable to key sectors of the U.S. economy,” he said. “The continued growing prominence of IP-intensive industries over the past several years demonstrates clearly how important their contribution is to the US economy as a whole, and the substantive benefits that accrue to the workers employed by them. Every piece of intellectual property we put into circulation is a potential job, a new business, a competitive advantage, and an investable asset.”

According to the report, IP-intensive industries directly employed 49.6 million workers in 2024, representing approximately one-third of total US employment. When indirect employment generated through related industries is included, these sectors supported 44% of all jobs across the US economy.

The report also introduces a new analysis examining the contribution of IP-intensive industries across different sectors. It identifies information services and manufacturing as the industries with the highest concentration of IP activity, where IP-intensive businesses account for more than 90% of output and over 80% of employment, respectively.

Workers employed in IP-intensive industries continue to earn significantly higher wages than those in non-IP-intensive sectors. Average weekly earnings were found to be 53% higher overall, with employees in copyright-intensive industries receiving wage premiums of approximately 130%, while those in utility patent-intensive industries earned around 90% more than their counterparts elsewhere in the economy. The overall wage premium across IP-intensive industries has increased by 13% over the past decade.

The report also highlights the importance of intellectual property to US trade. Of the 104 industries identified as commodity exporters, 76 were classified as IP-intensive. Led by the aerospace, petroleum, and pharmaceutical sectors, these industries accounted for 81.5% of all US commodity exports in 2024.

The USPTO’s latest findings reinforce the central role intellectual property continues to play in supporting economic growth, high-value employment, and export performance, providing fresh evidence of the significant contribution IP-intensive industries make to the US economy.

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