World Intellectual Property Organization

• 08 Mar 2024

UN's World Intellectual Property Organization (WIPO) reports a 1.8% decline in patent filings in 2023, the first drop in 14 years.

• China (69,610) and the US (55,678) both record fewer filings, marking a 0.6% and 5.3% decline respectively.
• Japan and Germany also report reduced patent applications, while South Korea sees a slight increase.
• The Patent Cooperation Treaty, covering 157 signatory states, allows inventors to seek patent protection in multiple countries simultaneously, contributing to around 60% of non-resident patent applications, according to WIPO.