Posted on Monday 26 March 2018 by Cruickshank Intellectual Property
Following on from a successful 2016 the World Intellectual Property Organisation (WIPO) has reported high growth and demand for Patent, Trade Mark and Industrial Design protection during 2017. Figures published last week show a continuous rise in Intellectual Property (IP) applications most notably for international Patent applications processed through the Patent Corporation Treaty (PCT).
Strong Figures Reported for Last Year
Figures released for 2017, show a 4.5% increase from last year bringing the total number of patent applications to 243,500. While the USA still commands the top spot for the country with the most applications, China has for the first time overtook Japan to claim second position. This again echoes the constant growth of international patents emerging from China. While it has long been said that China will at some stage overtake the US, WIPO now expect to see this happen within three years. These figures show that the efforts by China to strengthen their IP laws and promote a healthy innovative environment are becoming more evident. Speaking at a conference regarding their findings WIPO Director General Francis Gurry stated:
“The rapid rise in Chinese use of the international patent system shows that innovators there are increasingly looking outward, seeking to spread their original ideas into new markets as the Chinese economy continues its rapid transformation.”
As with 2016, The University of California retained its first position with regards educational institution users of the PCT system, a position it has held for the last 24 years, while the field of computer technology overtook digital communication to hold the largest share of published PCT applications. WIPO also announced that Trade Mark filings through the Madrid System grew by 5% since last year, while Industrial Designs experienced growth of 3.8%.
Observing the findings, Senior Partner and Patent Attorney Gearoid Schutte here at Cruickshank believes this continuous growth “is demonstrating the increasing value companies and individuals are placing on the value of patents and they are realising the importance such protection can bring.”
If you would like to know more about the PCT and patent application process or any other IP related matter, please contact us and we would be happy to arrange a meeting with one of our Patent or Trade Mark Attorneys. To keep up to date with the latest IP news also follow us on Twitter and LinkedIn
If you have an idea that requires protecting or simply need an expert in European IP Law, then please get in touch with us today.
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