World Intellectual Property Organization (WIPO), international organization designed to promote the worldwide protection of both industrial property (inventions, trademarks, and designs) and copyrighted materials (literary, musical, photographic, and other artistic works its an international organization dedicated towards promoting creativity and innovation by ensuring that the rights of creators and owners of IP are protected worldwide, and that inventors and authors are recognized and rewarded for their ingenuity.
According to Drishti daily updates site reported that the United Nations, World Intellectual Property Indicators Report-2019, global Intellectual Property (IP) filing activity continued to grow at a rapid pace.
In 2018, patent filings around the world exceeded by around 3.3 million, representing a 5.2% growth over 2017 figures.
Asia accounted for two-thirds of these applications, being the global hub for IP applications.
China has been at the leading position of global growth in worldwide IP filings in 2018 whereas the United States of America marked its first decline since 2009.
In India, there was a large increase in the number of filings with respect to
Trademark filing activity (+20.9%),
Patent filings (+7.5%), and
Industrial design filing activity (+13.6%), marking almost double-digit growth in 2018. For India, this was the third successive year of double-digit growth.
Amongst the middle-income countries in the period from 2015 to 2017, applicants residing in India (16.8% of total published applications) mostly filed the patents related to the pharmaceuticals sector.
The share of withdrawn or abandoned applications was also highest in India (66.2%).
However, India reduced the number of pending applications by 25% in 2018 compared over the last year (2017).