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According to a new report from McKinsey, the current internet revolution is driving economic change not seen since the 19th century. The research firm found that Sweden leads the world in internet contribution to GDP at 6.3%, but we were curious to see how Asian nations fared.

Since its launch on June 1, 2023, the Unitary Patent System has aimed to simplify processes, reduce costs, and unify legal protection across participating EU countries. In its first year, over 27,500 Unitary Patents were registered, covering 80% of the EU's GDP. Germany and France led adoption, though the absence of key economies like Spain and Poland shows harmonization is still a work in progress. The system's Unified Patent Court (UPC) has quickly become a central venue for patent litigation, handling over 500 cases in diverse tech sectors. Businesses appreciate the faster resolution times and streamline legal processes, though some SMEs remain cautious due to perceived cost risks. Meanwhile, traditional litigation has declined, raising questions about local court roles in the evolving ecosystem. Cost savings are significant maintaining a Unitary Patent for 10 years costs less than €5,000 compared to nearly €29,000 under the old system. However, challenges persist, including procedural complexities and jurisdictional uncertainties. As the system matures, expanding its reach and refining its frameworks will be key to strengthening Europe's innovation landscape. To know more about this, read the complete blog here.

U.S. economy has sounded a recession alarm. Economists believe that the current low unemployment rate and rising inflation rate in the United States will induce the Fed to raise interest rates to cool the overheated economy. This will frustrate investor and consumer confidence and trigger the US