As the Philippine economy demonstrated a strong growth momentum and IP is leveraged as a capital for resilient growth, the volume of intellectual property (IP) applications at the IP Office of the Philippines (IPOPHL) in 2022 set a new record-high.
Overall, last year's applications reached 48,259, which is 2% more than the previous record-high of 47,328 in 2019 and 3.7% more than the 46,558 in 2021.
Individually, copyright registrations, trademark filings, and patent filings all reached record highs.
The country's 7.6% gross domestic product growth, which was faster than the 5.7% in 2021 and the fastest since 1976 as strong household consumption and gross capital formation fueled the growth, was cited by Director General Rowel S. Barba as an example of how aggressive businesses are in capturing opportunities in the more upbeat economy and the digitalization of business interactions as intensified by the pandemic.
"More Filipinos are starting to see the competitive benefit of maintaining some kind of control over their most cherished assets: their intellectual property (IP). Not in spite of the pandemic and other economic and environmental issues we face, but because of them, more companies and entrepreneurs are incorporating IP into their success plans,” he said.