Press release | 2010-04-14 09:13:27
It looks like belts have been tightened as far as they will go with IP budgets now stabilizing for 2010. 72% of corporate patent professionals surveyed in a recent study of 150+ small to medium-sized US businesses expect to maintain or increase their foreign patent filings in 2010, as compared to 2009. According to the survey entitled "US IP Trends: Global Patent Protection in 2010", conducted by inovia, the majority of companies surveyed had their IP budgets cut in the last 12-18 months. In fact, almost 40% experienced a cut of over 30% of their budget.
"The survey findings validate what we suspected — US firms’ IP budgets were hit hard in 2009 but things are expected to improve this year," commented Justin Simpson, Founder and Executive Director of inovia. "To help cope with these budget cuts, companies are demanding more cost-efficient methods to gain global patent protection for their US innovations."
Additional Survey Findings
The online survey, conducted by inovia, entailed querying patent professionals at over 150 US companies, representing primarily small to medium-sized enterprises. The survey was conducted between January and February 2010.
inovia is the global leader in foreign patent filing, having served more than 1,500 clients. Its global instruction platform, inovia.com, simplifies the PCT national stage entry, direct (Paris Convention) filing and European validation processes. inovia, a member of the RWS Group, has headquarters in New York, offices in London, Munich and Sydney, and agents covering over 130 countries, providing support in all major time zones and IP jurisdictions. inovia's patented technology pioneered online foreign filing and is recognized among WIPO's most notable inventions. For more information visit www.inovia.com and follow the company on Twitter @inoviaIP.
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