Intellectual Property Month at the USPTO

Every October is USTPO's Intellectual Property Month, which aims to encourage innovation, promote economic growth and address global challenges. In the United States alone, industries and businesses that rely heavily on intellectual property protection account for $7.8 trillion in GDP each year and provide 63 million jobs.

According to the U.S. Small Business Administration, in 2023, the number of patent applications filed by new businesses reached 5.5 million, the highest number of new business applications in history. Encouraging and supporting more innovation from small and medium-sized enterprises has always been a priority for the USPTO. During this Intellectual Property Month in 2024, the USPTO will expand intellectual property identification tools and new entrepreneurial certification training courses designed specifically for small and medium-sized enterprises to ensure that millions of new business owners and tens of millions of existing businesses know how to protect their intellectual property, help companies identify types of intellectual property, and how to strategically manage and use intellectual property to strengthen their business in domestic and international markets. These training courses and tools are designed for small and medium-sized enterprises and are free of charge.

Data shows that startups with IP protection are more successful in raising funds for new product development and expanded production than those without IP protection. When patents are used as collateral, a patent can increase venture capital funding by 76% within three years. After a startup's first patent application is authorized, it can increase the number of employees by 36% over the next five years. After five years, the sales of new companies with patents can increase by 80% compared to companies without patents.

Small businesses with registered trademarks experienced similar benefits: five years after their initial trademark application, employment increased by 80 percent and revenue doubled. In contrast, companies without trademarks experienced employment growth of less than 20 percent and revenue growth of less than 40 percent during the same five-year period.