Patexia Insight 212: Issued Patents Up by 12.92% in H1 2024
Patents and trademarks are foundational to the U.S. economy, fostering innovation, creating jobs, and driving economic growth. As the landscape of intellectual property continues to evolve, understanding the latest trends and developments becomes increasingly crucial, offering valuable insights for lawyers, investors, businesses, and policymakers.
Our annual Patent Intelligence and Trademark Intelligence reports provide a comprehensive analysis of the current state of patent and trademark prosecution. By evaluating and ranking stakeholders—companies, law firms, and attorneys—based on their activity and performance, we equip industry professionals with critical information to navigate the complexities of intellectual property management. These insights not only highlight emerging trends but also identify key players and their strategic movements in the ever-changing IP environment. With the conclusion of the first half of 2024, today’s insight will dive into the latest trends in patent issuance and trademark filing activity. We will explore how these trends have evolved compared to the first half of 2023, offering a comparative analysis to highlight the shifts and emerging patterns.
Published Applications and Issued Patents
According to the Patent Intelligence Report 2024, the number of issued patents has been declining, with an average annual decrease of 3.11%, from 2019 to 2023. Further analysis of the specific drivers behind the observed decline in issued patents is required to provide more insights into the broader innovation ecosystem. It depends first of all on changes in filing trends which may indicate shifting innovation landscapes, evolving industry dynamics, or changing regulatory environments.
When examining issued patents during the first half of the current year, a different trend emerges. Comparing H1 of 2024 to H1 of 2023, there is an increase of 12.92% in issued patents. Kathi Vidal, Director of the USPTO, has been addressing an inherited backlog of patent applications, a situation exacerbated by the unpredictable effects of the COVID-19 pandemic. The USPTO's Strategic Plan includes several measures to tackle patent pendency and improve application processing. These measures focus on hiring, training, and technological advancements aimed at ensuring high-quality patent examinations while maintaining timely issuance. While these adjustments are necessary for long-term improvement, they have temporarily affected the rate at which patents are issued. We might be seeing the results of these strategic optimizations in 2024.
The top countries issuing patents in the U.S. in the first half (H1) of 2024, following the United States with 96,307 patents, are Japan (22,226), Canada (17,570), and Korea (12,750). Although Saudi Arabia is currently ranked 15th, it is poised for growth among the top ranks. As highlighted in our article, Saudi Arabia is the fastest-growing country in U.S. patent filings. The Patent Intelligence Report 2024 dives further into different statistics related to patent prosecution trends, patent application types, technology centers, grant times, high-tech and biotech activity, and the most innovative cities and states in the US, among others.
Trademark Trends and Analysis
The landscape of U.S. trademark activity between 2019 and 2023 has also been fluctuating. Over the past three years, the number of trademark applications has decreased. However, a comparison of the first half of 2023 to the first half of 2024 reveals a 2.11% increase in trademark applications. Although modest, this uptick could indicate a stabilization in filings since the decline of 2022.
As detailed in our previous insight on foreign countries driving U.S. trademark filings, China remained the second most active country before the USPTO in the first half (H1) of 2024. The United States led with 182,760 filings, followed by China with 66,411. Canada (4,356) and the United Kingdom (2,782) were in third and fourth places, respectively.
For an in-depth analysis of the US trademark landscape, check out our Trademark Intelligence Report. The report covers registration rates, renewals, cancellations, domestic and foreign activity, and top growing and declining countries. It also evaluates and ranks companies, law firms, and attorneys involved in trademark prosecution.
For continuous access to comprehensive patent and trademark intelligence, explore our Concierge subscription program. Gain valuable insights into companies, law firms, and attorneys involved in patent and trademark prosecution through their detailed profiles on our website. These profiles provide data on issued patents and registered trademarks, application statuses, office actions, extensions, pendency, activity and performance rankings, and the top five examiners, attorneys, firms, or clients associated with each entity. Subscribers also have access to a comprehensive list of all published patent and trademark applications, as well as numerous other metrics, empowering them to make informed decisions effectively.