The World Intellectual Property Organization (WIPO) announced yesterday that global intellectual property filings continued to grow in 2011, with China's patent office receiving more applications than any other country's.
The World Intellectual Property Indicators 2012 report highlights a 7.8% worldwide increase in patent filings to 2.14 million for 2011, the second straight year of more than 7% growth.
"Sustained growth in IP filings indicates that companies continue to innovate despite weak economic conditions," said WIPO Director General Francis Gurry in a statement. "This is good news, as it lays the foundation for the world economy to generate growth and prosperity in the future."
China's State Intellectual Property Office received 526,412 applications in 2011, followed by the U.S.'s 503,582 and Japan's 342,610. China saw 34.6% growth in patent filings in 2011, according to WIPO.
Trademark applications also reached a record-high 4.2 million applications , with especially strong growth in China (31.2%), Brazil (21.6%), and the U.K. (16.4%).
The article China Surpassed U.S. in Patent Filings originally appeared on Fool.com.
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