GO CHINA: PATENT APPLICATIONS IN CHINA CONTINUE TO DOMINATE THE WORLD

  
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The UN Intellectual Property Agency states that in 2016, out of the 3.1 million patent applications filed, the China’s State Intellectual Property Office received 1.3 million. This number is more than the combined total of applications in the countries with next four highest totals, the US, Japan, South Korea, and Europe. China accounts for 98% of total growth in patent applications.

In relation to this, the WIPO Director General Francis Gurry states that “the latest figures charting a rise in demand for intellectual property rights confirms a decade-long trend, where developments in China increasingly leave their mark on the worldwide totals. China is increasingly amongst the leaders in global innovation and branding.”
Asia’s share of global applications increased in the 10 years leading to 2016 from 49.7% to 64.6%. WIPO said trademark applications shot up by 16 percent to about 7 million, and worldwide industrial design applications increased by 10.4% to almost 1 million, again led by growth in China.

Definitions
 Patent-A patent is a right granted to an inventor by the federal government that permits the inventor to exclude others from making, selling or using the invention for a period of time. The patent system is designed to encourage inventions that are unique and useful to society- Find Law”.

WIPO- A self-funding agency of the United Nations, this is the global forum for intellectual property services, policy, information, and cooperation.

News credit: Asia Times