January 30, 2015
IP Contributes Billions To Society
Intellectual property can be difficult to describe to describe to friends and colleagues. IP is a concept — you cannot hold it, see it or point it out. However, IP is a fundamental piece of our society. It helps innovators develop the inventions we love, from a smartphone to our favorite food, and ensure they can continue to deliver new products well into the future. Even if we cannot see IP, we can work to help others better understand the basics of IP and its value to our communities.
A new study from Steward Redqueen does just that. The authors follow the journey of Ogura, an oilseed rape hybridization technology developed by INRA, the French National Research Institute, across its 20 year patent life. The authors discovered Ogura created €1.2 billion in economic benefits to society with €960 million, or 80%, going right into the pockets of farmers and consumers. This landmark study shows exactly how IP helps provide new inventions and a better economy for all of us. Download the full study, executive summary and infographic to share today.