News:World Intellectual Property Organization(WIPO) has released the World Intellectual Property Indicators 2019.
Key takeaways from the report:
- In 2018, patent filings around the world exceeded by around 3.3 million, representing a 5.2% growth over 2017 figures.
- The global growth in IP filings was driven by China which accounted for over 50% of IP filings including patents, trademarks and design.
- The US was ranked second as it witnessed a 1.6% fall in patent filings, which is the first decline for the country in the previous decade.
- India was among the top ten countries of the total (resident and abroad) Intellectual Property(IP) filing activity by origin.
- India saw over 20% growth in trademark filing whereas in respect of industrial design filing activity, it witnessed a 13.6% rise.
About Intellectual Property:
- Intellectual Property rights(IPR) provide certain exclusive rights to the inventors or creators of that property in order to enable them to reap commercial benefits from their creative efforts or reputation.
- The main social purpose of protection of copyright and related rights is to encourage and reward creative work.
Types of Intellectual Property:
- Copyright: It covers literary works such as novels, poems and plays), films, music, artistic works and architectural design.
- Trademark: Trademark is a word, or symbol, or phrase, or design, or any combination of these, which identifies and distinguishes the source or origin of a product or service.
- Patents: Patents are exclusive rights granted by the Government to a company/individual for an invention.Patents are time bound.
- Industrial Design:It constitutes the ornamental or aesthetic aspect of an article.It may consist of three-dimensional features such as the shape of an article or two-dimensional features.
- Geographical Indication: A geographical indication is a sign used on goods that have a specific geographical origin and possess qualities or a reputation due to that place of origin.
- WIPO is the global forum for intellectual property (IP) services, policy, information and cooperation.
- It is a self-funding agency of the United Nations with 192 member states.
- It’s mandate governing bodies and procedures are set out in the WIPO Convention which had established WIPO in 1967.
- It’s aim is to lead the development of a balanced and effective international IP system that enables innovation and creativity for the benefit of all.