India, China leads as Global intellectual property filings reached new records in 2021: WIPO

Tags: Reports Economy/Finance

According to the World Intellectual Property Organisation Indicators report published by the  World Intellectual Property Organisation (WIPO on 21 November 2022,Global intellectual property filings  of patents, trademarks, and designs, reached record levels in 2021 driven largely by increases from Asian countries of India, China, and South Korea.

The WIPO's World Intellectual Property Indicators (WIPI) report showed that innovators around the world filed 3.4 million patent applications in 2021, up 3.6 per cent from the previous year with offices in Asia receiving 67.6 percent of all applications worldwide.

According to the report the growth in registering new brands coincided with a boom in entrepreneurial activity and venture capital deals prompted by the corona pandemic's disruptions. Industrial design filing activity rose by 9.2 per cent. The largest growth in designs was also from offices in Asia.

Asia leads while US declines 

According to the report, local filings of patents in India grew by 5.5%, in China it grew by 5.5%, and in South Korea by 2.5%. More than two-thirds of the patents filed were from Asia.

According to the report, in 2021 the local patenting activity declined by -1.2 percent in the US, -1.7 percent in Japan and Germany-3.9% in Germany. 

World Intellectual Property Rights Organisation (WIPO) 

WIPO is the global forum for intellectual property (IP) services, policy, information and cooperation.

World Intellectual Property Rights Organisation (WIPO) is a United Nations agency. 

It was set up in 1967 and 193 countries are its members.

 Geneva Switzerland is the Headquarters of WIPO.

Director General of WIPO: Daren Tang

World Intellectual Property Rights Day is observed on 26 April every year.