China topples America in global patent race after 40 years

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China topples America in global patent race after 40 years

China topples America in global patent race after 40 years
China topples America in global patent race after 40 years

The United States after 40 years, lost the first place of number of patents, in favor of China.

The U.S. has been on top of the world of Patents for over 4 decades, it even managed to become the world's largest source of patent applications.

According to the World Intellectual Property Organization (WIPO), concerned with patent registration, on Tuesday, China became the world's largest country to file international patent applications in 2019.

The UN organization said that the amount of applications submitted from China last year amounted to 58990 applications, compared to 57840 applications from the U.S.

According to Reuters, the world intellectual property Organization has said that the amount received from China has increased in only 20 years by nearly 200 times, while the U.S. has filed the highest number of applications within the world each year, since the signing of the Patent Cooperation Treaty in 1978.

Asian countries currently account for over half of all patent applications, and Japan ranks third, then Germany and South Korea .

For the third year in a row, Chinese telecom giant Huawei was the company with the biggest number of patents.

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