The year it all changed

A study published by the World Intellectual Property Organisation (WIPO) in mid-November 2011 reported that the global IP market is now worth $180 billion a year. According to the World Intellectual Property Report 2011 – The Changing Face of Innovation, royalty and licensing fee revenue rose from $2.8 billion in 1970 to $27 billion in 1990, and hit $180 billion in 2009. This is faster than global gross domestic product rose over a similar period. In fact, because the statistics recorded by WIPO only went up to the end of 2009, it is possible that two years later the total may now have hit the $200 billion mark.

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