Recent statistics on patent application filings and grant approvals show a marked drop in both.

Patent applications have fallen from over 30000 pa to 20000 and approvals have fallen from 8000 to 6000 pa

Patents take 3 to 5 years to process and cost £ thousands. If applicants fail there is a high risk of IP becoming public and impossible to protect. The chances of success are less than 1 in 3. This indicates that using a trade secret strategy instead of filing a patent is more cost-effective and lower risk.

ip news chart