Number of patents doubled since financial crisis08. december 2016
The number of patents granted to Danish companies has skyrocketed since the financial crisis. Things have changed and intellectual properties are more important than ever.
The 2008 financial crisis had substantial consequences for industries and businesses around the world. The immediate effect for companies was a declining market capitalisation by factors not seen since the Great Depression of the 1930’s demanding new financial requirements and a restructuring of entire businesses.
The aftermath of the crisis was – and still is today – dominated by new standards with a redefined business model and innovation as a driving factor for business development. There is no longer a safe haven in a world, where "disruption" has become the new buzzword.
The statistics tell the story
In a world of disruption, protection of innovative ideas is essential for a business to survive and grow. The numbers do not lie: The number of granted patents has skyrocketed since the crisis suggesting that the intellectual properties were not sufficiently protected and prepared for recession.
For Danish companies, the year of 2009 marked a turnaround for patents granted in the US, Europe, and Denmark. After 2009, the number has increased each year and by the end of 2015, the number has more than doubled (+110 %) compared to 2009. In 2015 alone, 2007 patents were granted to Danish companies in the aforementioned countries, up 7 % from the year before.
Especially the US has become an interesting market for Danish companies. From a stagnant number of patents during the years 2006-2009, the number is now 165 % higher than in 2009. This suggests an increased focus on the markets abroad, which is likely to be linked to the increased globalisation. Thus, the need for expert consultancy to ensure the correct protection of your intellectual properties is more relevant than ever.
What will the future bring?
Today, the global economy and a clear majority of companies are back on track, and the 2008 financial crisis is merely history to many. However, the risk of a similar recession has not vanished. In fact, the latest economic figures indicate an impending risk for a new recession in the US which is likely to have dramatic effects on the global economy. Recently, the US presidential election has had a negative effect on the markets.
In case of a new crisis, it is of utmost importance to maintain the focus on innovation and learn from the 2008 financial crisis and its aftermath. Innovation and protection through intellectual properties are more important than ever to keep your business competitive.
Do not neglect your IP-strategy
Danish companies are famous for their innovation as confirmed by the latest Global Innovation Index giving Denmark a ranking as number eight. Combined with an increasing number of patents granted to the companies, an increased competition is natural. Combined with the risk of a new recession, it is of even greater importance today that your company has an IP-strategy and knows how to protect its intellectual properties.
If you want to discuss the issues further, do not hesitate to get in touch with Chas. Hude A/S. We are experts in all aspects of protecting intellectual properties and in ensuring the greatest amount of flexibility for our clients. Together, we ensure that your business is prepared for the future and your intellectual properties are competitive in a globalised world.