Sustainability and Intellectual Property in Austria

Intangible assets such as patents, trademarks, designs and data are becoming increasingly important in today’s knowledge economy. According to the EU Commission’s Action Plan on Intellectual Property to strengthen EU’s economic resilience and recovery (‘IP Action Plan’) published on 25 November 2020, IP-intensive industries account for 45% of GDP and 93% of EU exports, while the added value of IP is growing across most European industrial ecosystems. Globally, IP filings are on the rise, as intangible assets become crucial in the global race for technological leadership. It goes without saying that the success of sustainable economies depends to a large extent on new and innovative solutions. Intellectual property rights, therefore, undoubtedly play an increasingly significant role in sustainable and green businesses.