IP-intensive industries accounted for about $5.06 trillion in value added, or 34.8 percent of U.S. gross domestic product (GDP), in 2010. In total, 40.0 million jobs were directly or indirectly attributable to IP industries.

Intellectual property is vital to U.S. competitiveness and economic growth. We must shore up this sector by fighting innovation mercantilism, stopping rampant IP theft by foreign countries, and imposing smarter tax policies domestically such as the patent box that promote growth in IP.