We have found that GDP is one of the leading indicators of increases in patent filings, As estimates for 2015 GDP growth come in, we’re able to forecast which countries will show an increase in patent fillings.
Miami Beach, Florida (PRWEB) December 26, 2014
World Patent Marketing, the world’s fastest growing patent and inventor services organization, has recently released an infographic with their projections for the top ten countries most likely to file more patents over the next five years.
“We have found that GDP is one of the leading indicators of increases in patent filing,” says Scott Cooper, Managing Director of World Patent Marketing. “As estimates for 2015 GDP growth come in, we’re able to forecast which countries will show an increase in patent fillings. Several underlying factors directly influence GDP through augmented consumerism and emergent economies. IP filings generate the need for more research and development, an increase in savings and investment ratios, and an opportunity for growth in innovative activity.”
According to their World Intellectual Property Indicators report, the World Intellectual Property Organization estimates that 2.35 million patent applications were filed worldwide in 2012, representing a growth of 9.2% from the previous year. In fact, it’s the highest rate recorded in 18 years.
The filings vary across the world’s six geographic regions; however, IP offices in Asia accounted for the largest filing concentrations. For example, Asian offices received a combined share of more than half (55.9%) of all patent applications worldwide, whereas the offices in European countries received altogether 14.7% of the total.
GDP calculations have drastically changed in the last few years. Now incorporating all costs associated with research and development, GDP is now directly affected when the number of IP patent filings rises. R & D is increasingly mounting in developing countries. IP patent filings can play quite the role in cultivating GDP and overall economic growth.
When companies in these developing countries continue to innovate, it creates new jobs and generates economic prosperity. An influx of foreign direct investment into some of these budding economies directly affects the GDP causing the number of IP patent filings to surge.
With that being said, here are the top ten countries most likely to file more patents over the next five years:
#10 Ethiopia: With a GDP growth of 7.96%, Ethiopia’s 87.9 million inhabitants will likely be filing more patents than ever before.
#9 Angola: The seventh largest country in Africa, Angola is projected to have an 8.08% GDP growth through 2015, making it another top contender for increases in patent filings.
#8 Laos: The low-income economy of Laos is projected to experience a major increase of 8.08% growth in their GDP over the next year. Their slow economic development is about to undertake an upswing in their IP patent filings.
#7 Ghana: Touted as one of Africa’s fasted growing GDP’s in the world, Ghana’s high per capita income makes way for their potential 8.15% increase.
#6 Mozambique: Mozambique’s chemical manufacturing and aluminum and petroleum production is likely to account for a great proportion of the projected 8.73% increase through 2015.
#5 China: While China is accounted for a large share of the IP filings in recent years past, an 8.77% increase in GDP will keep them as a frontrunner for number of projected filings.
#4 Sierra Leone: With a projection of a 9.54% GDP increase, Sierra Leone’s diamond industry may just be rivaled by their up and coming IP patents.
#3 Timor Leste: This Southeast Asian country has struggled economically since its independence from Indonesia. The enormous projection of a GDP increase of 10.63% should aid in boosting this struggling and impoverished economy. IP filings are sure to follow suit.
#2 Iraq: Despite Iraq’s recent struggle to regain its police force and government turmoil, the country is projected to have the second largest GDP growth with a 12.23% increase by the end of 2015.
#1 Mongolia: Foreign direct investment has been on the rise for Mongolia since 2011. With an estimated 13.60% GDP increase over the next year, this Asian country rounds out the top of our list.
Especially in developing markets and economies, patents are an influential method for encouraging the development of new technologies and commerce. Intellectual Property patent filings are a direct indication of the induction of new expertise into the marketplace.
World Patent Marketing is the only only patent and inventor services company to receive a five star rating from Google and Consumeraffairs.com . Their consistency is the key to a successful journey. You don’t have to live in one of these countries to protect your idea. To learn more about patent filing and protection, connect with World Patent Marketing. Their team is available for consultation, and has the worldwide infrastructure and resources to help you from Laos to New York and everywhere in between.