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Rogers, Mark; Greenhalgh, Christine --- "Use of Intellectual Property by the UK Financial Services Sector" [2006] ELECD 354; in Bosworth, Derek; Webster, Elizabeth (eds), "The Management of Intellectual Property" (Edward Elgar Publishing, 2006)

Book Title: The Management of Intellectual Property

Editor(s): Bosworth, Derek; Webster, Elizabeth

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781845421120

Section: Chapter 11

Section Title: Use of Intellectual Property by the UK Financial Services Sector

Author(s): Rogers, Mark; Greenhalgh, Christine

Number of pages: 21

Extract:

11. Use of intellectual property by
the UK financial services sector1
Mark Rogers and Christine Greenhalgh

1 INTRODUCTION

The purpose of this chapter is to provide new information on the
intellectual property activity of UK financial sector firms. The database
we have constructed allows us to document trademark applications, and
UK and European Patent Office (EPO) patent publications for a sample
of large UK companies over the period 1996­2000. Why should we be
interested in this sector's intellectual property activity when most economic
studies of R&D and IP confine themselves to an examination of firms in
manufacturing industries?
Data from the Office of National Statistics (2004) shows that the `financial
services' sector accounted for 8.9 per cent of total gross value added in 2002,
up from 8.2 per cent in 1992.2 In comparison manufacturing accounts for
around 19 per cent of gross value added. In terms of employment, the financial
services sector accounts for around 16 per cent of total employment, with
manufacturing having around 14 per cent of the total (Begum 2004, Labour
Force Survey data). While the changing structure of the UK economy and
the growing contribution of service sector firms has been well documented
via such aggregate statistics, Greenhalgh and Gregory (2001) also stress
the expanding role of financial and professional services as suppliers of
intermediate inputs, reflecting increased inter-industry specialization. These
authors have demonstrated that this rise in intermediate demand dwarfs even
the large rise in direct final demand ...