Patent applications continue to rise, a report released Tuesday found, thanks to soaring demand in China.
Of the some 3.1 million patent applications filed in 2016, China’s State Intellectual Property Office received 1.3 million, according to a World Intellectual Property Organization (WIPO) report.
That record number was more than the combined total of applications in the countries with next four highest totals, the US, Japan, South Korea, and Europe. China accounted for 98% of total growth in patent applications.
“The latest figures charting a rise in demand for intellectual property rights confirm a decade-long trend, where developments in China increasingly leave their mark on the worldwide totals, WIPO Director General Francis Gurry said. “China is increasingly amongst the leaders in global innovation and branding.”
Asia’s share of global applications has increased in the 10 years to 2016 from 49.7% to 64.6%.