Intellectual property, or IP is booming in Zibo city – located in East China's Shandong province – with the growth rate in high-value invention patents per 10,000 of its population projected to top 20 percent in the current year.
That's according to a news conference on the city's intellectual property rights protection, or IPR protection, held on April 25.
Plans are for the amount of patent rights pledge financing to increase by more than 20 percent in 2022 compared with the previous year.
The China (Zibo) IPR protection center, currently under construction, is scheduled to pass acceptance in May. It will then be a main driver of the city's IPR activities and is expected to boost them in four major areas.
First, it will open fast-track channels for patent examinations. As a result, the licensing cycle of invention patents for new materials will be shortened from an average 22 months to 3-6 months.
Second, it will reduce the time it takes to confirm IPR for companies. Retrial cases and invalid cases from the China (Zibo) IPR protection center will be prioritized by the patent reexamination board of the China National Intellectual Property Administration, so they will be dealt with at a faster pace.
Third, the center will simplify procedures and safeguard rights as quickly as possible. Cases about counterfeit patents and design infringements will generally be settled within 10 days, while invention and utility model infringement cases will mostly be resolved within a month.
Last but not least, the center will promote patent navigations and the operation of IPR work, as well as foster high-value patents.
Under the plan, Zibo is expected in the current year to authorize 300 high-value patents and pledge 200 invention patents with a large amount of financing. The number of high-value invention patents per 10,000 of its population is projected to reach six.
In addition, Zibo will take action against counterfeit and infringing products. This includes establishing a specialist library on IPR protection and setting up an overseas dispute coordination and resolution mechanism.
Zibo has taken solid steps to protect intellectual property rights and improve its business environment. [Photo/VCG]
