The average annual growth rate of patent applications and utility solutions was 9.8% per year in the last ten years with Vietnamese entities filling 7,560 applications, according to the Intellectual Property Office of Vietnam, while foreign entities filed a total of 60,517 patent applications.

The average annual growth rate of patent applications and utility solutions was 9.8% per year in the last ten years with Vietnamese entities filling 7,560 applications, according to the Intellectual Property Office of Vietnam, while foreign entities filed a total of 60,517 patent applications.

According to a report by the office, in 2014, Vietnamese entities filed only 487 patent applications compared to 3,960 by their foreign counterparts. Last year, the number of applications filed by Vietnamese entities increased to 991, while those filed by foreign entities rose to 8,469.

However, the total number of utility solutions filed by Vietnamese entities over the past decade was more than 1.3 times higher than those filed by foreign entities with an annual growth rate of 12% in comparison to the same figure by foreign firms of 9.4%.

During the last ten years, Vietnamese entities filed a total of 399,017 trademark registration applications, while foreign entities submitted only 83,803 applications with the number of trademarks awarded to Vietnamese entities reaching 200,856, compared to 56,908 awarded to foreign entities, said the report.

Regarding applications for rights of use and ownership submitted over the past decade, from 2014 to 2023, there were 1,805 applications by industrial property owners. There were also 11,757 applications for transfer of ownership by industrial property owners.