The importance of innovation as a driver for growth of both companies and entire economies is recognized across the globe. Major nations have long understood that patent protection is crucial to encouraging creativity and innovation by safeguarding inventions.
The earliest intellectual-property systems date back to the 18th century (in the U.S.) and back to medieval times in Europe. Japan has a slightly younger system, established in the late 19th century. Japan’s neighbor, China, is a late-adopter of patent laws, which it first introduced in the mid-1980s.
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