As crises abound on multiple fronts, and after the long period of COVID-19, supply chain breakdowns and war in Ukraine, several Danish companies find themselves in need of a boost and some good advice. The aforementioned international analysis, showing that companies that capitalise on the opportunities offered by patents, trademarks and design rights perform significantly better than those that do not, will thus be welcome news.
IP-intensive industries in Denmark – in other words, industries that make use of patents, trademarks and design rights – accounted for 29 percent of Danish jobs and 47 percent of Denmark's GDP during the period 2017-2019 according to a comprehensive study by EPO (the European Patent Office) and EUIPO (the European Union Intellectual Property Office).
"Innovation is a key component for many companies when it comes to ensuring growth and more jobs, but what many don't realise is that patents, trademarks and design rights are a significant part of this equation. They are an effective means of turning innovation into good business. The advice here - for large and especially small companies – would therefore be to train a sharp eye for rights and the opportunities they offer," says Sune Stampe Sørensen, Director General of the Danish Patent and Trademark Office.
Innovation is a key component for many companies when it comes to ensuring growth and more jobs, but what many don't realise is that patents, trademarks and design rights are a significant part of this equation.
The Confederation of Danish Industry also emphasises the importance of patents, designs and trademarks when it comes to holding your own against international competition.
"IP rights are hugely important to many of our member companies. Innovation is a crucial element of international trade and globalisation, and by encouraging Danish companies to develop and invest in, for example, new technology, medicine and green solutions, they then have to think about rights in strategic terms so they can scale up internationally, protect their business and remain strong on their markets," says Kim Haggren, Deputy Director General of the Confederation of Danish Industry.
In terms of added value, Danish businesses are typically active in industries that are more IP-intensive than other European countries. Patent-intensive industries in Denmark account for just under 20 percent of GDP and create just under 10 percent of Denmark's jobs, whilst trademark-intensive industries in Denmark account for 41 percent of GDP and create 22 percent of Denmark's jobs. Design-intensive industries account for almost 16 percent of GDP and create almost 12 percent of Denmark's jobs.
The study also identifies the twenty most IP-intensive industries at European level.
Read the study "IPR-intensive industries and economic performance in the European Union, 4th Edition" here.