Patent Filings Slow Amid Economic Slowdown

The worldwide economic crisis appears to be having an impact on international patent filings. This week the WIPO announced that the number of international patent application filings in 2008 increased by 2.4 percent, a big drop from the 9.3 percent average pver the past several years. However, the number of applications filed was 164,000, an all-time high. The countries with the largest increases were Korea (12%) , China (11.9%) and Sweden (12.5%). The U.S. experienced a 1 percent drop. Australia, Italy, Netherlands, UK also experienced declines. Canada had a very respectable 4.2% increase.