The value and importance of intellectual property are becoming increasingly prominent in the knowledge-intensive and innovation-driven global economy. Concerning fostering innovation and boosting high-quality development, intellectual property monetization plays a significant role. China pays more attention to a continuous effort to improve the intellectual property service system, aiming to enhance its efficiency. According to data from the China National Intellectual Property Administration, China’s patent and trademark pledge financing amount reached USD 37.5 billion (CNY 267.66 billion) in the first half of 2023, with an increase of 64.6% year-on-year. From January to May of this year, the total import and export value of intellectual property royalties reached USD 37.5 billion (CNY 157.78 billion), with an increase of 5.8% year-on-year.
It’s well recognized by Chinese enterprises that intellectual property is not only a result of R&D but also a tool for consolidating market competitive advantages and making financial incomes. Cultivating IP-intense products and services can help to gain market advantages and establish technical barriers against impacts from rivals. Further, intellectual property monetization would maximize commercial value from market and extend new business areas, forming a diversified business model.
In the ICT industry, intellectual property monetization is also a driving force behind positive cycles of technological innovation. As today’s technological innovation in ICT becomes increasingly complicated and intensified, intellectual property monetization could timely turn innovative achievements into actual productivity, effectively promoting continuous innovation. Upstream and downstream players in the ICT industry chain will establish a market-oriented innovation management mechanism, contributing to an innovation system closer to market demands. A steady stream of innovation vitality would be stimulated in the ICT industry, and gradually expand into more vertical industries.
Nowadays, openness, inclusiveness and fairness are the themes of the international intellectual property order. Chinese enterprises are continuously striving to be engaged in the global intellectual property system, with a full understanding of international intellectual property rules. They are eager to contribute their intelligence to the development of the whole industry, by involving in global intellectual property governance.
We call for mutual respect for intellectual property rights and fair recognition for each one’s innovation contributions. It is proposed that all enterprises around the world seize the opportunity and work together to boost the healthy development of ICT and related industries with intellectual property.
1. All parties make joint efforts to explore an open, inclusive and balanced intellectual property ecosystem, making global intellectual property governance fairer and more reasonable.
2. Positive dialogue and cooperation are encouraged to deal with intellectual property affairs to realize the commercial value of intellectual property with a better way of win-win mindset.
3. Transparency, predictability, and rationality of standard essential patent Frand practice should be optimized to reduce misunderstandings.
Michael LEE,
Director, Law and Policy Research Department,
Patent Center, China Mobile Group Design Institute Co., Ltd.
Huili Xu,
Researcher, Law and Policy Research Department,
Patent Center, China Mobile Group Design Institute Co., Ltd.
