China Now Outpaces Other Countries in Patent Filings
From WIPO’s Report: “World Intellectual Property Indicators 2019”
Every year, the World Intellectual Property Organization (WIPO) releases a report that analyzes and ranks global IP activity. Key findings in this year’s report reveal that the U.S. is losing ground to foreign countries in patent filings and patent activity in China is surging.
“The WIPO found that China’s patent filings grew by 11% from 2017 to 2018, making up 49% of global patent filings, whereas the United States saw a 1.8% decline in patent filings during that same period.”
U.S. Inventors and Investors Are Skipping Out on Advanced Technologies
From USIJ’s Report: “U.S. Startup Company Formation and Venture Capital Funding Trends 2004 to 2017”
The Alliance for U.S. Startups and Jobs (USIJ) released a report last year finding that weaknesses in the U.S. patent system — including lack of injunctive relief, IPR misuse, and unreliable subject matter eligibility, to name a few — have left inventors, innovators, and investors reticent to put significant resources into developing and patenting advanced technologies critical to U.S. competitiveness. Instead, U.S. investment is going into lower risk commercial activities.
“Despite superficial appearances that U.S. startups and their investors remain vibrant, a closer look reveals major declines in the technologies that drive systemic growth in the economy and advance U.S. competitiveness.”
A Lack of Diversity in Patenting is Hindering Innovation
From the USPTO’s Report: Study of Underrepresented Classes Chasing Engineering and Science Success (SUCCESS) Act of 2018
A new USPTO report to Congress, required by the SUCCESS Act of 2018, looked at the patent and innovation activity of minorities, women and veterans in the U.S. The report found that, while data on the matter was limited, these groups are underrepresented as inventors and patent holders. Moreover, if these groups would participate at higher rates, it will have a measurable benefit on the U.S. innovation ecosystem. [SP1]
“To maximize the potential of the nation, it is critically important that all Americans have the opportunity to innovate, seek patent protection for their inventions, and reap the rewards from innovation through entrepreneurship and commercialization.”
If you’re concerned about the current state of the U.S. patent system, read our recent blog post about the STRONGER Patents act, a bipartisan bill that would strengthen our patent system and support American inventors.
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