The Philippines: Showing Signs of Recovery
An impressive 11.6%. The figure provided by the Intellectual Property Office of The Philippines (IPOPHL) signifies the growth of intellectual property (IP) filings for 2021. With the easing of the Inter-Agency Task Force’s (IATF) alert level status starting last year, it is a clear indication that the country’s economy is trying to get back on its feet, albeit slowly.
Posting a 20% jump. Making it the most significant recovery totaling 1,588 is the Utility Model (UM) filings, far exceeding the 4% yearly growth pre-pandemic. Utility model filings, although they cover a shorter period of between 6 to 10 years i.e. 7 years from date of filing, require compliance with less stringent requirements than patent filings and, in a way, comparatively cheaper.
2020 will forever be the year the global lockdown happened. It has ground businesses to a halt, except for those outfits closely affiliated in the field of medicine, health, and nutrition. Telecommunication companies whose demand for their internet service skyrocketed from people looking to transition quickly to working from home, online selling, and virtual learning.
Coming up with the total number of UM filings is food chemistry, the most significant contributor with 815 UM filings. Followed by basic materials chemistry (92), special machines (77), handling (75), and civil engineering (57).
Trademark applications surge of 12% was mainly due to pharmaceuticals, health, and cosmetics filings, totaling 11,360. A close second is agricultural products and services with 10,977, followed by scientific research, information, and communication technology (8,946). The rest were management, communications, real estate, and financial services (7,624), and textiles, clothing, and accessories (5,843).
Patent filings rose to 10%, which also contributed to the overall growth of filings. Pharmaceutical patents led the way, accounting for almost half of the total at 3170. Trailing behind are fine organic chemistry (1,562), biotechnology (994); basic materials chemistry (614); and food chemistry (443).
Continuing with its decline but slower (-0.2%) is the Industrial Design filings at 1,261.
Ironically and interestingly enough, IP-related activities on a global scale still grew in 2020 as published by the Worldwide Intellectual Property Office’s (WIPO) IP Facts and Figures. Worth noting is that 90% of the Top 10 Offices are categorically progressive nations, with Asia accounting for the bulk of the activity.
For its part, IPOPHL (Intellectual Property Office Philippines) is looking to surpass last year’s all-time high record of 45 international applications for patent protection under the Patent Cooperation Treaty (PCT) System. They are extending their global push of the PCT Filing Assistance Program until December 31, 2022. Said program waives fees for an International Search Report (ISR), $400 for small entities and $1000 for big entities; and International Preliminary Examination Report (IPER), $200 for small entities and $500 for big entities. Furthermore, it provides technical consultation on the PCT system and the application process. You can read IPOPHL article here.
The election is just around the corner for 2022. And the next set of high-ranking government leaders will be in place by the middle of this year. They will have the daunting task of further sustaining this growth thru economic policies and initiatives that will boost local business and strengthen trade with other countries.
As a famous saying goes, “Through adversity comes strength,” the Filipino has time and again displayed resiliency throughout challenges. And this virus outbreak we are still currently under is no exception. Our strength lies in the areas of creativity and ingenuity.
The numbers are highly encouraging, and the programs are effectively working. J.Ponce Law Firm, a law firm specializing in the IP category, firmly believes this. With over a decade of experience assisting overseas entities, this is an excellent window of opportunity for international organizations looking to enter the Philippine Market. We offer a free one-time preliminary consultation and trademark search for interested clients. For more information, visit our page at https://poncelaw.com.ph/. Should you have further queries, feel free to leave your message at https://poncelaw.com.ph/contact-us/ or send us an email at mail@poncelaw.com.ph
To know more about the importance of hiring an IP Law Firm you can read our updates: https://poncelaw.com.ph/2020/07/03/why-you-should-hire-an-ntellectual-property-law-firm/