New USPTO Data: Patents Power $11.4 Trillion of the American Economy

A new USPTO report finds that IP-intensive industries drove $11.4 trillion (44%) of U.S. private sector GDP and supported 65.8 million jobs in 2024, with workers earning 53% higher wages than non-IP-intensive peers and IP-intensive exports making up 81.5% of all U.S. commodity exports. USIJ warns those gains are at risk from PTAB’s high invalidation rates and urges Congress to finalize the PTAB NPRM and pass the PREVAIL Act, RESTORE Patent Rights Act, and PERA.