According to the high ranking official from SIPO, China is planning to carry out a project to improve patent quality to further promote patent transactions.
China has become a big country for patents and patent applications. The number of invention patent applications has been ranking first for five consecutive years. There are now over one million valid invention patents. However, poor quality and low commercialization rate of patents make it difficult to play it full role in boosting economic development.
Accordingly China will motivate innovative institutes to invent more patents with high technology and market benefits, from the aspects of policy guidance, examination and granting, patent agencies, and protection.
It is also noted that the measures should be made to deal with institutional obstacles, including establishing scientific and reasonable mechanism for equity distribution, giving entities and inventors more distribution rights for inventions. Meanwhile, the building of intellectual property operation platform will be accelerated.
