The metaverse is a quickly growing virtual space that appears to have caught the attention of businesses, individuals, and governments throughout the world. With its increased potential to transform how we interact, work, and play in the virtual environment, it is not surprising that nations are taking notice of the emerging technology.
On that note, the United Kingdom government has analyzed the metaverse’s intellectual property landscape, highlighting IP and trademark applications for the digital frontier.
A Growth In Metaverse-Related Patent Filings
The United Kingdom government’s report highlights an increase in metaverse-related patent filings, with 71,738 international patent families (IPFs) identified by June 30, 2021. Interestingly, IPFs are patent applications filed in two or more countries. The surge highlights the increasing interest and investment in metaverse infrastructure and technologies, with considerable growth recorded between 2015 and 2018.
The United States leads in the total number of IPFs, highlighting its pioneering role in the digital space, while Japan holds the second position.
Among the firms involved in this sector, Qualcomm owns the most international patent families (IPFs) in this domain, while Huawei also displays rapid growth in metaverse-related filings. The annual count of metaverse IPFs published by Huawei has seen a massive surge, with a 190% growth from 48 in 2015 to 140 in 2021.
Trademark Activity Shows The Move Toward Services
In addition to the patent filings, trademark activity related to the metaverse has also seen massive growth. By June 30, 2023, there were up to 31,503 UK trademark applications within this domain.
Remarkably, recent years have shifted from goods to service-related applications, displaying the evolving nature of the metaverse economy. Between 2014 and 2018, trademark applications consisting of virtual reality terms in their descriptions recorded a fivefold surge, with virtual reality specifications featuring in almost 2.36% of all UK trademark applications by 2022, based on the report.
Looking At The Future Of Metaverse IP
With the metaverse expected to exceed 1.4 billion users and a market volume of $490.4 billion by 2030, the UK’s analysis sheds some light on the dynamic IP operations that help shape the industry. The filing surge mirrors the growing interest in the metaverse space.
It highlights the need for regulation and an understanding of its general implications. Furthermore, as the Metaverse keeps evolving, monitoring and analyzing IP trends will be important for guaranteeing a balanced approach to regulation.
The United Kingdom’s contribution to metaverse technologies and its active role in shaping the future of the digital landscape proves intellectual property’s importance in helping drive the digital frontier forward.
In general, the UK’s analysis of metaverse intellectual property highlights the nation’s increasing interest in shaping the metaverse. As we look towards the future and the continued growth of the metaverse, it is evident that monitoring and understanding IP trends will be critical for boosting innovation.
