New world record in patent filings in 2011 despite global economic downturn

Despite rising global economic crises, innovations have been increasing.

According to the World Intellectual Property Organization (WIPO), despite the difficult global economic conditions, international patent filings set a new record in 2011 with nearly 182,000 applications.

The increase, WIPO noted represented a growth of 10% over the filings made in 2010.

WIPO observed that Asian economies were gradually becoming centres of innovation edging out the United States and Europe.

WIPO Director General, Francis Gurry said the growing number of patents was an indication of the importance companies attach to innovation as a feature of their economic strategy.

Mr Gurry told the UN Radio March 5, 2012 that “Asia now accounts for 38% of all international applications filed under the PCT. Europe is 30.9% and North America is 28.3%.”

He adds “It’s very interesting to see the middle income countries increasing their filling of international patent applications, presumably reflecting their journey to higher value on the value chain and to increased innovation. We saw Brazil increase by 17.2% in 2011 and we saw India increase by 11.2%.”

Citing facts from WIPO, the UN Radio reports that the United States, Japan Germany, China and Korea, had the highest number of patent applications while China registered the highest growth rate in patent filling in 2011.

ZTE Corporation of China and Panasonic Corporation of Japan had the highest number of patent application made by corporations, it said.

By Ekow Quandzie

Listen to Mr Gurry on UN Radio

[audio:http://www.ghanabusinessnews.com/wp-content/uploads/2012/03/c_wipo_patents_gurry.mp3|titles=WIPO_Patent]