Global demand for intellectual property tools soars, China driving growth: report

Across the globe, innovators filed 3.17 million patent applications in 2017, up 5.8 percent on 2016 figures and representing an eighth straight yearly increase, according to WIPO's annual World Intellectual Property Indicators (WIPI) report.

"Demand for IP protection is rising faster than the rate of global economic growth, illustrating that IP-backed innovation is an increasingly critical component of competition and commercial activity," said Gurry.

"In just a few decades, China has constructed an IP system, encouraged homegrown innovation, joined the ranks of the world's IP leaders - and is now driving worldwide growth in IP filings," he added.