Itellectual Property Conference of China
The “X Annual Intellectual Property Conference of China” held in Hangzhou, eastern Zhejiang Province, brought important developments in intellectual property for the Asian global power. The director of the ¨National Copyright Administration of China¨, Shen Changyu, said last September 2nd, that the country is working to implement a strict system of intellectual property protection. The purpose is to continue with the development of a satisfactory innovation and business environment in the territory.
New system of compensation
Among the planned measures, in the case of trademarks, the aforementioned director explained that China will apply a very strict new punitive system of compensation. The objective is to fight trademark violations and it will intensify efforts to deal with malicious trademark registrations.
On the other hand, in the case of patents, a patent law review is planned. It is also thought the development of a compensation system for the protection of drug patents. Moreover, the country will also extend the period of protection of designs, and improve the quality and efficiency in intellectual property review.
Consequences of the changes
Within the global context where China is waging a commercial battle against the United States, these changes to be implemented will have consequences not only in the Asian country. They will also have a worldwide impact. This is because China currently occupies the first world place in the number of Patents and trademarks applications filed.