Patent applications could increase 15% annually in Peru thanks to the Patent Cooperation Treaty

By Francisco Espinosa

According to estimates from the Peruvian Direction of Inventions and New Technologies (DIN), patent applications in Peru could increase 15% per year during the next 5 years, which will represent reaching an average of 2,500 patent applications annually, mostly due to the signing of the Patent Cooperation Treaty (PCT) in 2009, which was required by the obligations assumed by Peru in the Free Trade Agreement signed with the United States of America in that same year.

Bruno Merchor, head of the DIN, commented that although since 2009, when the PCT came into force in Peru, the number of patent applications suffered an expected decrease, since late 2010 those numbers have shown a sustained increase.
In 2008 were filed 1,535 patent applications, and 358 patents were granted.

"In 2009 the applications were 694 and 384 patents were granted, while in 2010 only 300 applications were filed", he declared to Andina agency.

He explained that this year it is expected much more activity than in the past two years because only in the first semester 580 patent applications have been received, while 178 patents have been granted and 372 applications have been denied.
"We believe that the stronger increase will happen from 2012 onwards, when we will reach 1,600 applications, beating our historical record".

He mentioned that the projected numbers are also considering the increasing interest in the country by foreign investments, as well as its solid economy and the potential of developing local investments, among other factors.

"In terms of our region, Peru does not handle a high number of patent applications, it is within the region average and, in that sense, the DIN is working to increase the number of local innovators that file patent applications".

In our view, the increase in patent applications should be expected despite the bleak international economic perspectives for the next two years, not only because of the new possibilities that the PCT brings to potential patent applicants, but also because of the increasing interest that a comparatively solid and growing Latin American region produces in those same companies.

The challenge for Peru as a country, besides continuing to produce such kind of international economic interest, will be to generate systems that will incentive the production of local technology and innovation, so that local inventors and companies will start benefitting from the opportunities that the PCT system provides.