SABIC announced that it has passed the milestone of having more than 10,000 patents either issued or pending approval. This makes it the largest owner of intellectual property in the Middle East.
According to the company, they have filed 373 patent applications in 2013, a rise of over 300 % from the figure in 2010. 2014 could see a further increase with 159 new patent applications applied for in the first three months of the year. SABIC said that they file on average a new patent application every 18 hours, each based on the work of approximately four researchers. This represents greater efficiency than any other company among the Top 10 companies in chemical industry.
- Saudi Basic Industries Corporation (SABIC), Riyadh, Saudi Arabia