Intellectual property (IP) filings worldwide rebounded strongly in 2010 after a considerable decline in 2009, a new report by WIPO recently uncovered. The recovery in IP filings was stronger than the overall economic recovery. Patent and trademark filings grew by 7.2% and 11.8% respectively in 2010 compared to growth of 5.1% in the global gross domestic product (GDP), with China and the United States accounting for the greatest share of the increased filings.
The 7.2% growth in patent applications in 2010 - the highest growth rate in five years - followed a 3.6% decline in 2009. The total number of 1.98 million patent applications worldwide was an all time high. Similarly, trademark filings rose by 11.8% in 2010 to reach 3.66 million– another all time high – having fallen by 2.6% in 2009.
WIPO Director General Francis Gurry noted that despite questionable sovereign economies, the worldwide upturn in IP filings demonstrates an innovation continuum that will "create new jobs and generate prosperity once macroeconomic stability is restored."