On April 26, The Partnership for American Innovation observed the 15th annual World IP Day. World IP Day is an opportunity to highlight the importance that companies around the world place on protecting their intellectual property with patents.
Patents help promote economic growth and innovation around the world. Top economies are increasingly focused on protecting IP, which is good for inventors and innovation. As the accompanying graphic shows, the top patenting countries have increased the number of patents originating from companies within their borders year-over-year. For example, in 2012, inventors in China filed just over 18,500 patents. In 2014, however, that number grew to 25,500 – an increase of 27%.
A continued focus on IP protection is important for companies to effectively compete in the global innovation economy. If you compare patenting rates to the GDP of top patenting countries, you will see the same countries at the top of both charts. In 2014, the U.S. applied for the highest number of patents, and maintained the highest GDP. Germany applied for the fourth highest number of patents, and has the fourth highest GDP among the top patent-producing countries. Similar connections can be seen across both sets of data.
It is more important than ever for companies in the U.S. to invest in patents for their inventions. Patents give ideas protection in the global market and add to the overall economic value of our country. As the global market grows increasingly competitive and reliant on intangible assets, strengthening our world-class patent system is critically important to our inventors, our innovation economy and our future.