China’s Patent vs. Innovation Dilemma
January 27, 2012 by Nancy (Meng Xiao) SituWith a well-deserved reputation for counterfeiting and knockoffs, we have rarely looked to China for innovation and invention. Nevertheless, as an ever-growing giant on the world’s economic stage, China has taken steps to remedy this deficiency. About a year ago, Thomson-Reuters released their second report on the nation’s patent prowess, suggesting that China’s patent will outpace Japan and the United States in 2011, a year earlier than their initial prediction in the first edition of their study in 2008. Although the United States was still the leader in patents by a wide margin in 2010, responsible for over a quarter of all applications, its growth is slowing while China’s is surging. China filed 1.2 million patent applications in 2010, 56% more than the previous year while the number of American applications dropped for the third consecutive year.
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