China Dethrones The US In Patent Race

Leaving everyone in a deep shock China has dethroned the US in terms of the international patent applications in the world and achieved the top place. This might be a huge blow to the US as the top slot has been enjoyed by the US for 40 years.

Going by the information provided by the World Intellectual Property Organization, the body which deals with the system for the nations to provide the recognition of the patents. As China has filed 58,990 applications last year, the US has filed only 57,840 applications losing the top slot.

The World Intellectual Property Organization went on to say that the Dragon country's Huawei Technologies which also happen to be the giant telecom maker turned out as the corporate patent filer for the third consecutive year which is quite impressive.

It is working, and intellectual property is certainly part of that strategy. I would put it down to that broad movement towards becoming a higher-value economy," WIPO's head Francis Gurry said.
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