Huangpu spearheads innovative trade secret insurance initiative

A business conference on proprietary knowledge insurance was recently held in Guangzhou's Huangpu district, where the Huangpu intellectual property bureau and multiple insurance companies jointly signed a strategic cooperation agreement to promote the development of proprietary knowledge insurance.

Proprietary knowledge, also known as a trade secret, is the knowledge that a business intends to keep private, such as secret formulae, procedures, and manufacturing methods. 

At the conference, the Huangpu intellectual property bureau and Guangdong Greater Bay Area Institute of Integrated Circuits and Systems jointly released the first provincial proprietary knowledge insurance policy, which involves risk management, financial protection, and legal support. 

At the same time, the first national proprietary knowledge insurance policy to exceed one million yuan ($150,000) was signed in Huangpu, becoming the highest insured proprietary knowledge policy in the country.

Huangpu has actively introduced insurance mechanisms to optimize its proprietary knowledge protection service system and reduce the difficulty and cost of protecting trade secrets.

In the future, Huangpu will continue to deepen the innovative development of proprietary knowledge insurance and better protect the legitimate rights and interests of enterprises.

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