Number of Patent Applications Remains High/Patent Laws Change, Business and Industry Trends Analysis

In fiscal year 2016, the U.S. Patent & Trademark Office (PTO) received 605,571 patent applications, up from only 109,359 in 1970.  To some extent, patents tend to reflect the health of R&D budgets.  The greater the funding, the more patents are filed.  At the same time, however, the rapid growth in the number of patent applications reflects today’s increased focus on protection of intellectual property by corporations and universities along with the extremely high traffic from biotech firms attempting to patent gene expressions and other biological discoveries. A patent application leads either to a patent grant or to a denial. …

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