The status quo and interrelationship of IP and sustainability 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 the EU’s economic resilience and recovery (published in 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. As such, it is worth noting that the European Parliament very recently adopted Directives 2005/297EG and 2011/83/EU, introducing new rules that foster consumer protection against green-washing practices and unproved sustainability claims.

To learn more on this topic, read Georg Kresbach’s contribution to the Sustainability Objectives in Competition and Intellectual Property Law book by the International League of Competition law (LIDC) (Chapter 13, Sustainability and Intellectual Property in Austria) published by Springer in January 2024 in open access.”