Companies that own intellectual property rights (IPRs) have typically greater business performance than those that do not, a major study has revealed.
The research, published by the European Union Intellectual Property Office (EUIPO) and the European Patent Office (EPO), aims to raise awareness about the value of intellectual property.
To carry out the study, the researchers compared the economic performance data of companies that own intellectual property – such as patents, trade marks and designs – against those that do not.
It was found that companies who own IPRs have, on average, 20 per cent higher revenue per employee than businesses that do not.
This rises to 55 per cent after correcting for significant factors, such as sector, company size and country, and even higher among small and medium-sized enterprises.
According to the paper, around 60 per cent of “large companies” own IPRs, while just nine per cent of small businesses can say the same – suggesting that those who do can make significant gains on competitors not investing in research and development.
The data also shows that employees who work for companies that own IPRs are paid 19 per cent higher than peers working for firms who do not own IPRs.
This rises to 68 per cent among small businesses – underlining the importance of IPRs on economic growth and recruitment.
The study, found here, is based on the financial data of “millions” of companies from all 27 EU member states and the United Kingdom.
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