The number of patents filed in Latin America is minuscule compared to China, Japan and the United States, however, a closer look reveals more. Recent statistics released in June from the World Intellectual Property Organization (WIPO) show an overall 2.7 percent increase in patents filed in Latin America. This growth was led by Mexico with a 9 percent increase from 2011-12 or 15, 314 patents filed. Colombia saw a 5.5 percent increase over 2011, and Guatemala realized a 3.9 percent increase. While Brazil showed a slight decrease in the number of patent filed, it still led all Latin American countries with 30,435 patents filed in 2012.
These statistics represent a dramatic increase percentage-wise compared to what many countries are seeing. The growth is likely due to the continued development of more mature IP laws in Latin American countries, as well as international treaties such as the Pacific Alliance, which aim to advance free trade and economic integration among the member states of Peru, Chile, Colombia and Mexico—as well as other foreign countries.
In IP Pro Life Sciences (special conference edition, pgs. 16-17), MultiLing director of business development for Latin America, Evelyn Paredes, discusses the key points companies new to doing business in Latin America need to know before filing for patent protection. Read the full article here for more details on patent laws and processes and unique translation issues.
As the economies in Latin American countries continue to grow, the need for qualified service providers will grow as well. Knowing how to navigate the languages, as well as the myriad legal processes in Latin America, will be a critical success factor.