Have you ever wondered about the Asian Corporate Giants dominating the US markets?
Which Asian Companies have gained a foothold in the US?
What are the technologies these Asian Companies have brought to the US?
To understand how Asian companies are filing patents in US, we at GreyB analyzed the patents filed by these companies in US. We also analyzed the attorneys or patent agents that were involved in filing these patents.
An interesting observation that was found during the analysis is that it is assumed that majority of the filing in US is done by the large size telecom, automative and manufacturing companies based out of US. However, it was found that the large players only form a small part of the total filings. The scenario has shifted from large players to an increased interest from small and medium size Asian enterprises trying to protect their IP in US. Majority of the filings are now done by the Asian SMEs.
Another interesting insight that we found was that for the 70000 patents that were issued in US in the last 5 years, having an Asian priority, only 1296 patent agents and attorneys were used by the Asian companies. The attorney and number of patent ratio suggests that there are only a handful attorneys who have captured the complete market from Asia.
This implies that there is a huge market for US patents which is currently being served by very few players. To estimate this market size, if we consider the basic cost of preparing a patent application to be $8000. (Source: AIPLA) it makes a whopping 2.3 Billion spent by Asian companies on Patent filing. Further, this market is increasing at a CAGR of ~50% in last 5 years which implies that there is a huge opportunity lying in front of the US law firms.
For more detailed information on this research, please reach out to us at firstname.lastname@example.org