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Ranking 15th in the Global Innovation Index 2021, Israel continues to be the seedbed of cutting-edge inventions. The Covid-19 pandemic has given the booming technology sector an additional boost; in 2021 the country noted a record number of huge funding rounds for unicorns – start-ups with a value of over $1 billion. It is no wonder, then, that many firms are experiencing an increased demand on the start-up front. Meanwhile, the Israeli Patent Office reported that the average total examination time for patents across all fields has been steadily decreasing over the past five years. Additionally, at the fifth China-Israel Joint Committee on Innovation Cooperation meeting, the Israel Patent Office and the China National Intellectual Property Administration signed a memorandum of understanding, expanding their IP cooperation in the field of trademarks and geographical indication.
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