Intellectual property insurance had been promoted in more than 22 provinces across China by the end of last year, providing protection for over 46,000 patents, trademarks, geographical indications and lay-out designs of integrated circuits, a report said.

The report on IP insurance was unveiled by the Intellectual Property Development and Research Center with the China National Intellectual Property Administration on Feb 8. It was the first time that the country issued a report on the issue.

As an important part of IP finance, IP insurance is meant to effectively alleviate IP risks for enterprises and help the corporations strengthen IP protection.

The report said that the insurance covers almost every IP type, including patents, trademarks, copyrights, geographical indications, lay-out designs of integrated circuits, trade secrets and new varieties of plants.

The insurance has also been used in every step of IP affairs, including creation, protection and application, the report added.