Russia (bbabo.net), - The value of domestic intellectual property has increased by 1.3 times in recent years, its total value is 6 trillion rubles. This was announced by the head of the Ministry of Economic Development Maxim Reshetnikov, speaking at the collegium of Rospatent. Investments in the industry have doubled in three years and exceed 700 billion rubles a year, he added.

“Intellectual property has become a powerful source of economic growth, without the development of this industry, it is impossible to achieve the national goal of 3% economic growth per year,” the minister said. “Business increasingly trusts the protection of patents and trademarks. Technologies are becoming assets that can be traded and transferred manage and profit from them. The Ministry of Economic Development is preparing amendments to the legislation that will allow citizens to register trademarks - previously only legal entities had such a right, as well as amendments to the tax code that exempt companies from part of the tax on profits from intellectual property, Reshetnikov added.

"Preparing for my speech, I looked at the figures: the terms of the substantive examination in the US are 15 months, and in Russia - 3.5 months," the minister noted. "And this does not lead to a loss in the quality of the examination." He also highly appreciated the development of the intellectual systems of Rospatent and expressed confidence that the office would continue this work with the new head.

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