Nanfang Daily: GDD pushes forward IP recognition with HK, Macao, Singapore

Guangzhou Development District (GDD) has launched a detailed regulation on promoting the mutual recognition of intellectual property among Guangdong, Hong Kong, and Macao on April 17.

The regulation aimed to establish an IP recognition channel among Guangdong, Hong Kong, and Macao, as well as between Guangdong and Singapore.

The document covered a total of nine areas, spanning promoting incentives for service financing, encouraging arbitration and mediation, strengthening cooperation in safeguarding rights, boosting financial leasing, as well as carrying out securities financing.

It has pointed out that IP from Hong Kong, Macao, and Singapore can enjoy the same treatment as domestic ones.

A one-time subsidy of 200,000 yuan ($28,231.93) is available for IP service institutions settling down in GDD as long as the institutions meet these three requirements: setting IP service as their main business and the operating revenue of its main business accounting for more than 50 percent of the total revenue; shareholders of Hong Kong, Macao or Singapore holding shares separately or in combination accounting for more than 50 percent of the total amount; as well as institutions being set up in Huangpu and operating for over one year.

In addition, institutions meeting the aforementioned requirements can see an increase in subsidy to 500,000 yuan if the operating revenue of their main business exceeds 5 million yuan.

Hong Kong and Macao people working in Huangpu are encouraged to obtain professional qualifications in IP used on the Chinese mainland.

Companies in GDD who filed and won an intellectual property lawsuit in Hong Kong, Macao or Singapore can receive a subsidy of 30 percent of the attorney's fees actually paid for on the case, with the subsidy amounting to up to 1 million yuan for a single case.

The document will be valid until Nov 25, 2022.

This English version is only for reference. To learn more, please refer to the authoritative Chinese version at gz.gov.cn.

GDD devotes efforts in promoting the mutual recognition of intellectual property among Guangdong, Hong Kong, Macao, and Singapore. [Photo by Liang Wenxiang/Nanfang Daily]

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