Many who study intellectual property law, world economics, and politics are talking about China?? ?Is there cause for alarm? What does it say about the United States?? Are we being outpaced?
The talk stems from the fact that China?s overall economy is growing like gangbusters.? Specifically, and relevant to the field of intellectual property, China?s patent volume is estimated to exceed two former patent leaders, Japan and the U.S., in the number of patents issued in the year 2011.
China?s innovation and growth
China experienced a 26.1% growth in the number of patents issued from 2003-2009.? During this same time period, the U.S. experienced a 5.5% growth.
Significantly, it wasn?t just the number of patents that is cause for concern.? China?s patent composition, technology growth, societal contributions, and quality of patents are all improving exponentially.?
The Chinese government?s policies, including research and development tax deductions, are spurring innovation.
How China is blowing everyone else, including the U.S., out of the water
China?s government is encouraging innovation and the development of new products to be patented by providing tax deductions, as mentioned above, and by offer special categories of patents such as ?utility? patents.
Although utility patents only offer 10 years of patent protection, they have a simplified patent application process.? In fact, two years ago (2009), one half of the patents issued in China fell into the utility patent category.
As China?s economy transforms from agricultural to technological, the number of high tech patents issued each year is booming.?
In intellectual property discussions, there is always the quality versus quantity discussions about patents.? The U.S. Patent Trademark Office (PTO) has stated that they wish to emphasize the quality of patents sought and issued, not quantity.? In fact, the PTO has stopped issuing its formerly annual list of the top 10 patent holding companies.
China seems to understand this quality versus quantity and it appears they are issuing quality patents as many patents issued are for new innovations, not minor improvements on existing inventions.
Source: http://www.wpburn.com/patents/patents-will-china-leave-us-behind
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