Huge sums of time and money are invested to support ongoing research and development efforts globally, particularly in the most innovative industries like pharma, healthcare and biotechnology. The global R&D spending [1] is at a record high of US$1.7 trillion of which 80% of total spending is only from the Top 10 countries.

While these statistics may suggest increased intensity of companies in R&D spending, we should also understand that these efforts will only yield returns when they are awarded enforceable ownership through exclusive patent rights. Intellectual property rights, especially patents, help companies protect their business interests by allowing them to reap the fruits of their innovative efforts through exercising their right to practice in strategic markets. This is evidenced by the increase in the rate of global patent filings across all major industries.

But, can filing alone guarantee a patent grant? Certainly not! Read the full post here.