New Delhi, Nov 12 (SocialNews.XYZ) India’s patents and industrial design filings for Intellectual Property rights doubled between 2018 and 2023, taking the country to the sixth rank, according to the latest World Intellectual Property Organisation’s (WIPO) annual report.
For the first time, India was included in the top 10 countries of the world for three main intellectual property (IP) rights: patents, industrial design applications, and trademark applications. The patent filing in India has shown the fifth consecutive year of a double-digit growth rate.
According to the WIPO report, the number of patents filed in India in 2023 was 64,480. The country's growth rate in patent filing was 15.7 per cent compared to 2022.
The report states that more than 35 lakh patents were filed worldwide in 2023 and this was the fourth successive year that global patent filing has shown positive growth.
In 2023, the maximum patent filing was in China (1.64 million), followed by the United States of America (518,364), Japan (414,413), South Korea (287,954), Germany (133,053) and India (64,480).
Asia remains the top spot for patents, accounting for 68.7 per cent, 66.7 per cent, and 69 per cent of global patent, trademark, and industrial design filing activity, respectively, in 2023.
Intellectual Property Rights refer to the creation by human minds, which do not exist in nature. They include inventions, literary and artistic works, designs, symbols, names, and images used in commerce. Intellectual property Rights are protected by law to prevent their illegal use.
Intellectual property rights include Patents, Copyright, Trademarks, Industrial Designs, Geographical Indications, and Trade Secrets.
Patents refer to the exclusive rights given to an invention by a human being, such as the discovery of medicine while copyright refers to creators' rights to their literary and artistic works, such as songs, music, books, etc.
A trademark is a legal term that distinguishes one company’s goods or services from those of others. It could be a symbol, design or name that the company uses on its products.
An industrial design constitutes the ornamental or aesthetic aspect of mass-produced goods.
The World Intellectual Property Organisation (WIPO) was established in 1967 as a United Nations' agency. Based in Geneva in Switzerland, the organisation’s main function is to promote the protection of Intellectual Property rights worldwide.
Source: IANS
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