Posted on Tuesday 30 April 2019 by Cruickshank Intellectual Property
Recent reports have shed a positive light on intellectual property rights holders. Encouraging figures from both the European Patents Office (EPO) and the World Intellectual Property Office (WIPO) have found that business owners and innovators are understanding the importance of protecting and maintaining their intellectual property.
Figures on the rise
Statistics for 2018 show a record-breaking year for European patents with 174,317 patents filed at the EPO, a 4.6% increase from 2017. 47% of these patent applications were from EPO member states, filing more than 3.8% more patents in 2018 and incurring the largest growth since 2010. Medical technology remained as the top technical field, followed by digital communication and computer technology.
Similarly, WIPO experienced a record breaking 2018, with a quarter-million Patent applications filed, a 3.9% increase from 2017. More than half of PCT applications administered by WIPO originated from Asia, closely followed by the EU and North America. Digital communication was the highest technical field, followed by computer technology, electrical machinery and medical technology.
Good news for Ireland
The EPO annual report also meant good news for Ireland with a 21.4% increase in patent filings from Irish applicants. While 660 patents were filed in 2017, this rose to 801 in 2018, the first time in ten years this figure has been reached. This now places Ireland in 21st position in the top 50 countries who have filed patent applications. This increase shows that Irish businesses and companies are utilising the options available to them in order to protect their intangible assets.
Protection is key
As an intellectual property law firm, we believe it is important for our clients to have a clear and concise understanding of the protection options available to them. Patent protection is an essential component for any business strategy, regardless of size or industry. The continued growth and demand of patent filings as seen in 2018 further indicates the innovative landscape in which Europe has become. We would advise if seeking patent protection please speak with a Patent Attorney who are better able to explain and advise further.
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.
The world is constantly changing, to provide the best possible advice we need to keep our fingers on the pulse of European law. If you would like to know the latest news or download helpful publications and guidance, go here