Reynolds Holding and Christopher Swann discuss why the increase in filings hasn't translated into a surge in oil and gas production.
There's been a bit of a surge and patents and China recently but has not translated. Into a corresponding boom in production. Chris -- what's going on yours is quantity over quality -- what. Well -- anybody scenes the number of patents in -- gases in sensing in China. Yeah and now dwarfs that the United States which is I think people like 60% -- of the global patents that global energy patents -- it's quite enormous it affected me the real test of and intellectual property -- -- are you producing any way our enemy and -- nicely the energy -- Had quite interesting in this regard because there is that real litmus. Which is how quickly you increasing oil and gas production rights and says. In the case of China. It appears that's a massive disconnect between these -- in patents and. And what is really rather sluggish increase in oh and also what's going on here is this just sort of empty paper that that they and and what's so what's. Kind of violence that somebody encouraging -- government curry will be the government does office subsidies academics are very much and have it and encouraged filed patents. As I have lower threshold than many other countries except perhaps that Germany could -- hit system yet in which you can have a utility pack. To mention which has very low threshold. You don't actually need to produce anything terribly innovative or exciting. Yeah now the news I ticket is not all that there are some signs that some of these patents or are actually worth something and yet. The findings of international patents that tend to be affecting guides to what he actually parties and the reason for that is -- -- multiply. And an offensive to a client and the assumption being that if you're willing to go to all that trouble you must have something left protect. Right and global patent justifies it just -- for a good idea exactly and that China has been. Increasing thanks global -- 8 -- by about 16%. 2010 team. -- it's still if you compare with the United States still producing just about a it's the number patents it. It looks that China still some way from becoming miss innovation powerhouse of its leaders would like you know what's interesting stuff will be continuing to watch that and as well as following other stories. In the meantime stay tuned for more breaking news next week.