The Five IP Offices (IP5) is the name given to a forum of the five largest intellectual property offices in the world that is being set up to improve the efficiency of the examination process for patents worldwide. The members of IP5 are:
- the European Patent Office (EPO)
- the Japan Patent Office (JPO)
- the Korean Intellectual Property Office (KIPO)
- the State Intellectual Property Office of the People's Republic of China (SIPO)
- and the United States Patent and Trademark Office (USPTO)
The IP5 Offices account for 90% of all patent applications filed worldwide and for 93% of all work carried out under the Patent Cooperation Treaty (PCT). The vision of the IP5 Offices is global co-operation, which has been defined as "the elimination of unnecessary duplication of work among the IP5 Offices, the enhancement of patent examination efficiency and quality and guarantee of the stability of patent right". The objective is to address the ever-increasing backlog at the world's five biggest intellectual property offices. As the world sees economic barriers between nations fade away, innovators want their intellectual creations protected concurrently in multiple major markets. Hence, applications for the same technology are filed at more than one patent office. The solution to the backlog problem is to reduce, to the maximum extent possible, the duplication of work which takes place at each office for a family of patent applications.