Malaysia Among Countries Worldwide Posting Double-Digit Growth In IP Filings

From Manik Mehta NEW YORK, Jan 6 (Bernama) -- Malaysia is one of the four Asean member states to register double-digit growth in intellectual property (IP) filings. The others are Singapore, the Philippines and Vietnam. Colombia, Russia and Ukraine also posted double-digit IP filings. Intellectual property filings rose significantly worldwide in 2010, underscoring global innovation initiatives driven mainly by the United States and China despite the global economic crisis, according to the latest report released by the United Nations World Intellectual Property Organisation (WIPO). The report provides an indication of strong growth in intellectual property filings worldwide in 2010 despite the global economic crisis plaguing advanced nations and developing countries. The report highlights the strong rebound in IP filings after the 2009 slump. Patent application filings were 7.2 per cent higher in 2010 over the previous year. This was the highest growth rate in five years compared to a 3.6 per cent decline in the previous year. WIPO director-general Francis Gurry said the increase in IP filings showed companies across the globe have continued to innovate despite the difficult economic conditions. “This can help create new jobs and generate prosperity once macro-economic stability is restored,” he said in the report’s foreword. Gurry also cautioned that “if economic conditions were to deteriorate sharply in the short term as happened in 2009, companies might be forced to abandon their investments in innovation, stifling an essential source of growth.” Total number of patent applications worldwide rose by 7.2 per cent, reaching 1.98 million, while trademark filings increased by 11.8 per cent, touching 3.66 million, both all-time high figures according to WIPO. Computer technology, electrical machinery, audio-visual technology and medical technology accounted for the largest share of patent filings worldwide. -- BERNAMA Malaysia