A patent is an exclusive privilege given to an innovation, a device or method that usually provides a different way of doing things, or proposes a specific technological answer to a issue. To secure a patent, proprietary details must be revealed to the public through a patent application.
Patents are not just human constructs; they play a crucial role in everyday life. Through recognizing inventions, patents promote creativity and emerging innovations in any area.
The World Intellectual Property Organisation, which manages a process for countries to share approval of patents, published its annual report for 2019 in Geneva on Tuesday, revealing a record 265,800 international patent applications were registered last year, up 5.2 percent from 2018.
In the key category of WIPO ‘s system of registering foreign patents-the Patent Cooperation Treaty, or PTC — China dominated the ranking for the very first time with 58,990 applications, ousting the United States, who registered 57,840 applications and been the biggest user since the PTC program took effect in 1978.
For the third straight year, Chinese telecom giant Huawei topped the world by filing 4,411 PTC applications. Japan-based Mitsubishi Electric Corporation ranked second with 2,661 PTC submissions, followed by Samsung Electronics of South Korea and Qualcomm in the United States, which submitted 2,334 and 2,127 filings, each.
Top 10 world’s patent filers in 2019 are:
Rank 10- Netherlands,Patent applications count: 4,011
Rank 9-Sweden,Patent applications count: 4,185
Rank 8-Switzerland,Patent applications count: 4,610
Rank 7-United Kingdom, Patent applications count: 5786
Rank 6-France,Patent applications count: 7,934
Rank 5- South Korea,Patent applications count: 19085
Rank 4-Germany,Patent applications count: 19353
Rank 3-Japan,Patent applications count:52,660
Rank 2-United States,Patent applications count:57,840
Rank 1-China,Patent applications count:58,990
In 2019, China became the world leader in international patent applications, surpassing the United States that held the top spot for over four decades, the UN patent agency said.