Patent filings slipped last year by nearly 2% in the first fall in 14 years amid economic uncertainty, the World Intellectual Property Organization (WIPO) said on Thursday. WIPO reported 272,600 filings in 2023, which was a 1.8% decline from the previous year. The top two countries China (69,610) and the United States (55,678) both reported fewer filings than in 2022, falling 0.6% and 5.3% respectively. In the case of China, it was the first drop since 2002. Japan and Germany, number 3 and 5 in the rankings, also filed fewer applications in 2023 although South Korea which is ranked fourth had a slight increase, WIPO said.

Source: CIP Today