The Dragon Fires Up its IP Barrels

Few months back, China’s State Intellectual Property Office (SIPO) released the ‘Promotion Plan for the Implementation of 2013 National Intellectual Property Strategy’. The Plan provided for a total of 84 measures to be taken in 8 key areas relating to China’s intellectual property (IP) development in 2013.

 In a move which will further strengthen the trust of Multi-National Corporations in the Chinese economy, China announced an array of economic and social policies, with the release of ‘The Decision on Major Issues Concerning Comprehensively Deepening Reforms’ in November 2013.

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 These reforms which run into volumes state that; “We will strengthen the utilization and protection of intellectual property rights, improve mechanisms for encouraging technological innovation, and explore ways to establish an intellectual property court.”

Also, the introduction of specialized courts by China, similar to the Federal Circuit in the US will significantly improve the enforcement of intellectual property rights in China.

By the end of 2012, the number of China’s registered-trademarks added up to roughly 7.7 million and the number of validly-registered trademarks reached 6.4 million, both ranking first in the world. Meanwhile, the number of registered work copyrights and software copyrights reached 688,000 and 139,000 respectively, both reaching record highs.

Now that, of all countries, China has stepped on the gas in developing and encouraging Intellectual Property Rights, maybe India too should consider making a reality of some long awaited IP reforms, such as, a specialized IPR court to start with maybe?

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