The 65th Series of Meetings of the Assemblies of WIPO Member States, one of the main IP events of the year, started today in Geneva. Representatives of all countries, including the President of the Eurasian Patent Office, Grigory Ivliev, take part in the meetings.

WIPO Director General Daren Tang stated that over the past 15 years investments in intangible assets have grown three times faster than those in tangible assets, reaching nearly $7 trillion last year.

Mr. Tang highlighted that nearly a third of all patents granted worldwide relate to digital technologies. This trend is set to continue.

“The very patterns of innovation are also evolving and changing, with digital innovation increasingly important, and merging with industrial innovation. The line between hardware and software is blurring. Almost a third of all patents filed today relate to digital technologies, and with the explosion of GenAI patents, this trend is set to continue,” said Daren Tang.

Mr. Tang also pointed out that the role of intellectual property has grown significantly, and it can no longer be treated as a separate legal silo.

“We can no longer afford to look at IP only in separate legal silos, but instead as a portfolio of intangible assets that are used by enterprises to grow and countries to develop,” Mr. Tang noted.

The ability to set global standards has slowed down because of geopolitical changes, but consensus is still possible.

“All these shifts in innovation, technology, and creativity are taking place in a world that is more divided geopolitically. Agreement has become difficult, and our ability to set global standards and norms has slowed down substantially. However, whilst consensus has become elusive, it is not extinct,” Mr. Tang said.

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