Sabic Now Largest Owner of Intellectual Property in Middle East
Saudi Arabian petrochemical giant Sabic is now the largest owner of intellectual property in the Middle East with more than 10,000 patents either issued or pending approval. This is a rise of 300% over the 2010 figure.
In 2013, the company was issued 373 patents, setting a new record, and it expects
to see a further increase this year, with 159 new patent applications applied for in the first three months alone.
On average, Sabic files a new patent application every 18 hours, each based on the work of approximately four researchers. This, it believes, represents greater efficiency than any of the other top ten companies in the chemical industry.
"Intellectual property is an important tool to help Sabic achieve its business goals," said Ernesto Occhiello, vice president technology and innovation, noting that the company
also has over 550 active disclosures under review.
Sabic's chief intellectual property council John Abokhair said, "our patent estate is used as one of several indicators to measure our return on investment in our research and development effort."
