WIPO: Asia Innovation Surges
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A new UN report shows innovation is surging in Asia, and for the first time accounts for more than half of the international patent applications filed in a single year.
The World Intellectual Property Organization says in 2018 Asia-based filings made up 50.5% of all applications. The agency's Director General says the rise "underscores the historical shift of innovative activity from West to East."
Leading the growth was Chinese telecom giant Huawei Technologies, followed by Japan's Mitsubishi Electric.
By country, the US is still the leader with just over 56,000 applications. China is a close second and is expected to top the list within the next two years.
Under the Patent Cooperation Treaty, innovators who file one international patent application can simultaneously seek protection in a large number of countries.