It’s popular amongst some champions of the often misinterpreted “fair use” doctrine to refer to copyright as some type of tax. An outdated system that stifles creation. We should remember however that copyright was developed specifically to drive innovation, creativity and culture by allowing creators to be fairly paid for their work.
It’s encouraging to see that over a century later, this may be more true than ever. A U.S. Chamber report released today has detailed how IP boosts the current U.S. economy and drives job growth.
In 2024, the U.S. saw over $5 trillion of existing IP supported jobs in all industries, every state, and for businesses of all sizes. IP-intensive jobs offered significantly higher wages, with an average wage premium of $18,483 above non-IP jobs. Total IP-related exports reached $140.36 billion.
Read the complete report at the U.S. Chamber of Commerce website.
(Image by Alexander Gray via Unsplash)
