The world has seen a startling increase in new technology in the past couple of decades. Inventions that would have been considered science fiction 20 years ago have drastically changed the way we function in almost every aspect of our daily lives. The filing of new patents across the globe has also advanced to an unprecedented number. In 2016 the number of new patents filed worldwide increased by 7.8% over comparable figures in 2015, according to figures provided by the World Intellectual Property Organization.

Increasing Pressure on Patenting Budgets