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, in order to continue with the development of a satisfactory innovation and business environment in the territory.
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 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 and, also, 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.
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, but they will also have a worldwide impact taking into account that China currently occupies the first world place in the number of Patents and trademarks applications filed.
Source: spanish.xinhuanet.com
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