My client has set up a company in China to take advantage of various incentives offered for patent fillings in China and a number of foreign countries. China wishes to increase the number of companies based in China with patent filings.
China, through the State Intellectual Property Office, revealed its ten year master plan, National Patent Development Strategy 2011-2020 to realize its dream to be an innovation based country.
China has set a target to achieve two million annual patent filings by 2015. At the same time, the number of registered patent agent is envisioned to reach 10,000. To support that ambition, China will roughly double its current examiners to 9,000 by 2015. The average period for patent examination will be shortened to 22 months, and utility model or design application to 3 months.
To be a patent power house, China also intends to double the number of patents its residents and companies file in other countries.
Patent transaction services and market environment will be established in ten model cities. Support will be given to foster exports of patented products and increase the proportion of exported patent-intensive commodities.
Some of the incentives offered include patent subsidy in the form of cash bonuses, and tax breaks for companies that continuously file patents. It does not matter if the company is fully owned by foreign individuals.
Patents, trademarks and copyright are integral parts of intellectual property that form intangible assets in our daily life. IP matters from Malaysia and the world are shared here.
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