On September 20, 2021, the World Intellectual Property Organization (WIPO) released the Global Innovation Index 2021. Switzerland, Sweden, U.S., and U.K. continue to lead the innovation ranking, and have all ranked in the top 5 in the past three years. The Republic of Korea joins the top 5 of the GII for the first time in 2021, while four other Asian economies feature in the top 15: Singapore (8), China (12), Japan (13) and Hong Kong, China (14). China moved …
Category: Uncategorized
China’s Hainan Province Proposes 1 Million RMB Rewards for Reporting Intellectual Property Infringement
On September 2, 2021, the Hainan Provincial Intellectual Property Office released the draft Interim Measures for Reporting and Rewarding Major Intellectual Property Violations in the Field of Market Supervision in Hainan Province (海南省市场监管领域知识产权重大违法行为举报奖励暂行办法) for comment. The Measures provide rewards of up to 1 million RMB (~$155 thousand USD) for reporting intellectual property infringement including of patents, trademarks, trade secrets, geographical indicators, integrated circuit layouts, etc. The infringement must be serious enough to qualify as a crime or subject to heavy fines.
China To Reduce Stamp Tax on Intellectual Property Transactions
On June 10, 2021, the National People’s Congress (NPC) passed the Stamp Duty Law of the People’s Republic of China (中华人民共和国印花税法) effective July 1, 2022. The Law refers to the taxes collected for various certificates that are registered in transactions in China. The name originates from the use of tax stamps pasted on the corresponding tax vouchers. While usually thought of in respect to securities sales, the stamp tax also applies to intellectual property transactions and patent grants, which will …
USPTO Updates China IPR Toolkit
From the USPTO: The United States Patent and Trademark Office (USPTO) recently updated the China Intellectual Property Rights (IPR) toolkit to reflect the recent changes made to China’s intellectual property (IP)-related laws and government structure. Originally published in October 2019, the toolkit provides general guidance for businesses and practitioners in better understanding the basics of the IP landscape in China. Published in May 2021, the updated China IPR toolkit highlights the differences between the U.S. and Chinese IP rights legal systems. The USPTO is one …