Intangible‑asset investment in Italy outpaces tangible assets but still trails global peers, highlighting a structural gap in knowledge‑based capital
Executive summary: WIPO and Luiss Business School reported that intangible asset investments in Italy grew at 5.5% per year from 2020 to 2025, outpacing the 3.2% annual growth of tangible assets, yet Italy remains behind peer economies in intangible asset intensity. Higher intangible investment correlates with productivity gains and competitiveness; Italy's lag may hinder its ability to capture value from knowledge‑based industries.
Who is involved: WIPO, Luiss Business School, Italian firms investing in software, data, and brands, policymakers shaping IP and data regulations.
Likely next: Italian government may consider expanding IP‑box tax incentives; industry groups could push for public‑private data‑sharing initiatives; WIPO will continue monitoring global intangible asset trends.
A WIPO‑Luiss Business School report shows that from 2020 to 2025 Italy’s intangible‑asset investments grew at an annual rate of 5.5%, exceeding the 3.2% yearly growth of tangible assets. Despite this acceleration, Italy remains behind other advanced economies in the share of intangible capital, which may affect its productivity and competitiveness in software, data and branding sectors. The findings suggest that policy incentives for IP and data assets could be crucial to close the gap.
Timeline
- — Software, dati, marchi: 10mila miliardi su asset intangibili. Italia indietro (Il Sole 24 Ore — Economia)
- — Announcement pursuant to section 23(1) sentence 1 no. 3 of the German Securities Acquisition and Takeover Act (WpÜG) (PR Newswire)
- — Microsoft: China streicht Windows bei Behörden schneller als geplant (Handelsblatt)
- — Industrie: In nur zehn Wochen zum Milliardendeal: Familienunternehmen EBM-Papst geht an US-Konzern (Handelsblatt)
Analysis — what this means
Likely next events
- Italian Ministry of Economic Affairs to draft IP‑box tax credit expansion by March 2027.
- Luiss Business School to publish quarterly intangible‑asset investment tracker starting September 2026.
- EU Commission to release consultation on Intangible Asset Framework Directive in Q4 2026.
- WIPO to update its Global Intellectual Property Report with 2025 data by June 2027.
Sectors affected
- Software development
- Data analytics and AI
- Intellectual property management
- High‑tech manufacturing
Regulatory implications
- EU’s proposed Intangible Asset Framework Directive expected adoption 2027, setting standards for IP valuation.
- Italian tax law amendment to broaden IP‑box regime, effective FY 2028.
- WIPO to revise Global Innovation Index methodology to weigh intangible asset intensity more heavily from 2028.
Historical parallels
- US intangible investment surge during the dot‑com boom (1995‑2000) drove productivity gains.
- Japan’s rise in intangible assets in the 1980s semiconductor expansion boosted export competitiveness.
- EU Lisbon Strategy (2000) targeted increasing intangible investment to 3% of GDP by 2010.
Sources
- Software, dati, marchi: 10mila miliardi su asset intangibili. Italia indietro — Il Sole 24 Ore — Economia
- Industrie: In nur zehn Wochen zum Milliardendeal: Familienunternehmen EBM-Papst geht an US-Konzern — Handelsblatt
- Microsoft: China streicht Windows bei Behörden schneller als geplant — Handelsblatt
- Announcement pursuant to section 23(1) sentence 1 no. 3 of the German Securities Acquisition and Takeover Act (WpÜG) — PR Newswire