CURRENT AFFAIRS

Detailed explanation-1: -WIPO’s Hague System for industrial designs saw 3.7% growth in 2018, reaching 5,404 applications. U.S.-based inventors filed the greatest number of PCT patent applications in 2018, trailed closely by China, which is expected to surpass the U.S. within the next two years on current trends.

Detailed explanation-2: -In 2021, China had the most patent grants worldwide with 695,946 patents granted to resident and non-resident companies or organizations. The United States followed with 327,307 granted patents the same year.

Detailed explanation-3: -A record number of intellectual property (IP) filings were made for patents, trademarks and designs in 2021. Global growth in patent applications was driven largely by China, India and South Korea. A total of 1.7 million patents were granted worldwide in 2021, following the highest annual growth rate for a decade.

Detailed explanation-4: -1) What is the Patent Cooperation Treaty (PCT)? The PCT procedure includes: Filing: you file an international application with a national or regional patent Office or WIPO, complying with the PCT formality requirements, in one language, and you pay one set of fees.