This year Panama will present 130 technological patent applications to the Ministry of Commerce and Industries (MICI), which means that the country aspires to become the first in Latin America to generate applications through the Patent Cooperation Treaty (PCT). in English), when measuring the number of applications per million inhabitants, commented the national director of Business Innovation, Víctor Sánchez.
Once requested, the World Intellectual Property Organization studies them for a year and a half to define whether to grant the patent or not.
“We are betting that Panama is an economy based on innovation, guaranteeing a differentiated product,” Sánchez said. Now, he added, “the challenge is to sell that intellectual property so that another company can produce or that the product is made in Panama and that it is a business niche,” he said.
The momentum in the generation of technological patents emerged in 2016, when the Development Bank of Latin America (CAF) promoted accelerated patent development workshops, in which 82 ideas emerged, but 52 patent applications were introduced via PCT.