Monday 21 September 2009

Growth in IP rights before economic crisis

A new WIPO report monitoring recent trends in demand for IP rights relating to patents, utility models, trademarks and industrial designs shows that before the onset of the global economic crisis, overall demand was continuing to increase.

The report shows that in 2007 (the last year for which complete worldwide statistics are available), demand for IP rights increased with 1.85 million patent (+3.7% increase over 2006), almost 3.3 million trademark (+1.6%) and approximately 0.62 million industrial design (+15.3%) applications filed worldwide in 2007.

There was a slowdown in demand in 2008 when the global economy experienced a sharp decline.

In the report’s foreword, WIPO Director General Dr. Francis Gurry says “History has shown […] that companies and countries which continue to invest in new products and innovation during times of economic recession will be those that will be best positioned to take advantage of the recovery, when it arrives. IP statistics help us to understand the role of the IP system in stimulating and diffusing innovation, promoting markets for new products, and rewarding creativity.”

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