The Impact of Patent Applications Filed on Sustainable Development of Selected Asian Countries

Innovative activity underpins economic productivity and growth. Countries that generate innovation, create new technologies, and encourage adoption of these new technologies grow faster than those that do not. In some industries patenting is identified as the most important means of protecting IP and is increasingly used as a strategic asset by companies to create sustainable competitive advantage – although, in others, secrecy is used to safeguard proprietary knowledge. The basic purpose of this paper is to see the impact of patent filing on economic growth of the country leading to sustainable development of the economy. For this, the paper analyzed and tested the data of 9 countries for the period of 10 years (2000-2009). The results concluded that it was a mixed result in case of Asian countries. Only, technology based countries’ economies were affected by patent applications filed.