Friday, November 25, 2011

IIPA Study Shows the Economic Impact of the Copyright Industry

While copyright has certainly become more prevalent in our society, I do not believe most people understand the impact that copyright has on the U.S. economy. The recent International Intellectual Property Alliance (IIPA) study released this month shows just how much impact the copyright industry has. The copyright industry employs over 5 million people in the U.S. The average salary exceeds the national average by more than 25%. The industry and those built around the industry make up over 10% of the national gross domestic product.

Not only does the copyright industry make up a significant amount of the domestic economy but its products are significant exports as well. Over $130 billion dollars in sales are made overseas. That's more than airplanes and cars.

The report is available on the IIPA website. The report was prepared by Stephen E. Siwek of Economists Incorporated.

Numbers like these explain the powerful lobbying power of the copyright industry. Regulation is also very significant to protect the copyright interests. It seems fairly clear that computer software is a driving force behind most of the copyright figures.

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