Intellectual Property applications up 3 7% in 2022: Philippines zawya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zawya.com Daily Mail and Mail on Sunday newspapers.
The Philippine creative economy could lose around $1 billion in annual revenue by 2027 if online video piracy is not controlled and continues to gain more users, according to a study by an independent Asia Pacific research provider.
Intellectual Property applications grew 3.7 percent in 2022 driven by the strong growth momentum of the country’s economy, according to the Intellectual Property Office of the Philippines.
The Intellectual Property Office of the Philippines said members of the Innovation and Technology Support Office 2.0 program registered a 53.5 percent increase in intellectual property applications in 2022, indicating their increased innovative and creative outputs and their remarkable rebound from the pandemic.
The Philippines has been elected as the chair of the Asia-Pacific Economic Cooperation’s Intellectual Property Rights Experts Group or 2023 to 2024, according to the Intellectual Property Office of the Philippines.