In the past two years, a spate of misleading reports on intellectual property (IP) has generated significant confusion among policymakers. Billed as empirical research, the reports aim to convince policymakers and the public that implausibly high proportions of US output and employment depend on expansive intellectual property rights.

But do as many as one-third of all US jobs depend on strong IP protection? Would millions of jobs be lost if IP laws were weakened?