Recently, the first arbitration tribunal for Intellectual Property disputes was set up in Chongqing city. This will improve the efficiency in settling the IP dispute and reducing the litigation cost. The decision can be recognized in more than 100 countries and regions.
The establishment of the tribunal is the result of the increase of IP disputes relating both domestic and foreign parties. It is urgently needed that supplementary mechanism should be established outside the administrative and judicial settlement system. The decision of the arbitration should be final and is binding on all parties. Due to the expertise of the tribunal, efficiency and confidentiality, it will become one of the popular approaches for parties concerned.
Experts at the tribunal are scholars, experts in the related industry, professors. At present,there are a total of 60 experts at the tribunal.
