Ideas Powered is an initiative to raise awareness of the value of intellectual property and the importance of respecting it.
Innovation, creativity and entrepreneurship in Europe are powered and supported by intellectual property. Trademarks, designs, patents and copyright, as well as geographical indications and other IP rights, help individuals and businesses develop, grow and share their ideas, creations and products.
Even though we may not be aware of it, intellectual property is embedded in all the things we like, use or enjoy, such as the arts, gastronomy, fashion, technology, sport and much more.
It is everywhere and affects us all. Failure to respect IP therefore impacts everyone as counterfeiting and piracy have consequences for everybody. They threaten the legitimate operations and reputations of businesses, the majority of which are small businesses, and they endanger jobs. They also undermine all creativity and innovation. They have a damaging effect on economies and individual citizens and can even present critical health or security risks. This is a problem on a global scale.
The debate on intellectual property is therefore everybody's business, as industries that have a higher than average use of intellectual property rights account for 42% of the total economic activity (GDP) in the EU, directly producing 28% of all jobs in the EU (and 38% if we add the employment generated indirectly in other sectors). Not only this, they pay wages that are 46% higher than other industries.
EUIPO has also estimated that in total, EUR 100 billion and 745 000 jobs are lost annually due to counterfeiting in 13 key sectors such as toys and games, clothes and shoes, jewellery, cosmetics, wines and spirits and pharmaceuticals for example.
People express a high level of support for the right to protect intellectual property. In fact, 97% of respondents to a European survey believed it is important that inventors, creators and performing artists can protect their rights and be paid for their work. However, consumers, especially younger ones, still share tendencies of buying counterfeit goods and pirating digital content.
For more information, click here.
Copyright is also the intellectual property right people are most familiar with but it is not always easy to know what can be protected, used or shared, especially in a European context. For more information on copyright, click here.