Technology Review, a prestigious publication from MIT (Massachusetts Institute of Technology), released the 2004 edition of its Patent Review Scorecard, an annual ranking of patents in eight high-tech sectors, including:
- Aerospace
- Automotive
- Biotechnology / Pharmaceuticals
- Chemicals
- Computers
- Electronics
- Semiconductors
- Telecommunications
The
research shows that despite the economic slowdown, most high-tech
companies remained committed to their R&D investments. One
such example of strong support of research even during tough times are
telecom giants Lucent (NASDAQ: LU), Motorola (NYSE: MOT), Ericsson (NASDAQ: ERICY) and Nortel (NYSE: NT), which maintained in 2003 their respective average ranks from 1998 to 2002.
The same May 2004 Technology Review "Invention" Issue features a global invention map, which highlights the creative power of most nations of the world, measured in terms of patents issued per million people. Interestingly enough, about half of the U.S. patents are nowadays awarded to foreign companies and inventors. There are 12 countries that have registered significant levels of innovation, and the common denominator among them is a higher standard of living enjoyed by citizens from those nations. One of the surprises is Finland, which had a strong showing (# 2 spot), thanks in part to contributions from Finnish-based companies such as Nokia (NYSE: NOK). It remains to be seen whether in the future, countries such as China and India will grow their substantial number of inventions to even higher levels, which are more proportional to their vast populations.