Philippines breaks new record on IP filings indicationAAA IPRIGHT2
Philippines has just published a report indicating that this country has once again breaks a new record on IP filings as the economy of the country is on rapid increase.
The number of intellectual property (IP) applications at the IP Office of the Philippines (IPOPHL) in 2022 established a new record-high, as the Philippine economy displayed strong economic momentum and IP is leveraged as a capital for resilient growth.
Overall, 48,259 applications were received last year, 2% higher than the previous record-high of 47,328 in 2019 and 3.7% more than the 46,558 in 2021. Copyright registrations, trademark filings, and patent filings all set new records.
Commenting on Philippines’ repeat milestone on IP filings, Director General Rowel S. Barba cited the country’s 7.6% GDP growth, which was faster than the 5.7% in 2021 and the fastest since 1976 as strong household consumption and gross capital formation fueled the growth. This is a true indication of how aggressive businesses are in capturing opportunities in the more upbeat economy and the digitalization of business interactions as exacerbated by the pandemic.
“More Filipinos are beginning to recognize the competitive advantage of retaining some level of control over their most prized assets: their intellectual property (IP). More companies and entrepreneurs are incorporating intellectual property into their success plans, regardless of the impact from the pandemic and other economic and environmental issues we face,” Rowel stated.
The recent record-breaking numbers of intellectual property (IP) filings in the Philippines is a testament to the country’s growing innovation and creativity. With more individuals and businesses seeking protection for their inventions, trademarks, and designs, it is clear that the country is on a path towards a more robust and competitive economy.
The rise in IP filings also indicates that the government’s efforts in promoting and protecting intellectual property rights are bearing fruit, and that the public is becoming more aware of the value and importance of IP protection. With the continued growth of the Philippine IP landscape, the country is poised to attract more investments, foster technological advancements, and build a more vibrant creative industry that can contribute to the country’s sustainable development goals.
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