Statistics show the growth of Peruvian innovation

By Espinosa Bellido Abogados

In just one year Peruvian patent applications increased over a half, according to the latest report from the National Institute for the Defense of Competition and the Protection of Intellectual Property (Indecopi) of Peru. In the first semester of 2019 Peruvians filed 38 patent applications and 55 utility models applications, a growth of 58.3 percent and 41 percent respectively compared to the same period of 2018.

“The improvement is the result of the constant work promoted by the Department of Inventions and New Technologies (DIN) of Indecopi through different programs such as PATENTA and the WIPO’s Technology and Innovation Support Centers (TISC)”, the Indecopi highlighted in a a press release.

National trademarks also increased in the first semester of 2019. Of the 16.000 trademarks granted until July, 64.02 percent were filed by Peruvians citizens or companies. “This significant increase in the number of registrations granted in favor of Peruvian trademark registrants is due to a greater promotion of the benefits of the intellectual property system, the implementation of a trademark advisory service and the management of simpler, cheaper and faster procedures, which makes the trademark system accessible and reliable for all citizens”, Indecopi stated.