Adam Bulakowski, Principal Partner, is the author of “Winning in the knowledge economy“. In this whitepaper, Adam discusses how companies (and countries) with unique, intangible assets and associated capabilities capture more of the value that they create from innovation activities (and remain competitive).
The United States and other “developed” countries have historically relied on an industrial economy, using physical inputs and natural resources for production. Impacted by globalization and advances in information technology ‐ accessibility, connectivity, distribution, etc. ‐ both developed and emerging economies now also output products and services that are based on intellectual expertise and knowledge‐intensive activities. According to the US Department of Commerce, which houses the federal agency for granting patents and registering trademarks (U.S. Patent and Trademark Office, or USPTO), IP‐intensive industries create goods and services worth nearly $7T, or almost 40% of the total US Gross Domestic Product (GDP). This includes $0.9T of export goods representing more than 50% of total US trade exports, notably in chemicals, medical, semiconductors, communication equipment and computer hardware. In other words, these IP‐intensive industries play an outsized role in a country’s global competitiveness and national progress.
