In order to promote the combination of intellectual property and financial resources, ensure the realization of IP value and strengthen the regional and industrial innovation, the State Intellectual Property Office lately started a patent insurance pilot program in Shenyang of Liaoning Province and other 19 cities nationwide. Currently, this pilot work is progressing smoothly, and Chancheng District of Foshan City has completed the insurance and acceptance procedures for 21 patents.
Some factors should be mentioned which led to the success of patent insurance in Foshan City. They are: setting up the leading group for the pilot coordination, formulating Implementation for Foshan Chancheng Patent Insurance Pilot and the Measures of Patent Insurance Subsidy Fund Management, establishing a coordination mechanism, improving the applicability and flexibility of patent insurance, and different premium subsidies based on the quantity and terms of patent insurance. It is learned that the premium compensation is 90 times of the insurance cost and amounted to 1,440,000 CNY.
