China Considers Harsher Penalties for Patent Violations
Michael A. Katz | | Dec 02, 2015 05:56 PM EST |
(Photo : Getty Images) A 2013 press conference against copyright violations in Beijing. China is stepping up its pressure on intellectual property piracy, and is considering increasing fines to up to 5 million yuan ($781,760).
China is stepping up its pressure on intellectual property piracy, and is considering increasing fines to up to 5 million yuan ($781,760).
The possible move came to light in a draft revision of China's Patent Law that was published by the government's Legislative Affairs Office of the State Council to seek public opinion.
Like Us on Facebook
Under the current law, the amount of fines levied against patent violators are based on actual losses by the victim, or profits by the perpetrator. However, the new draft allows for compensation of up to three times the losses or gains. While a plaintiff can currently claim compensation between 10,000 yuan to 1 million yuan, the proposed leglisation would bump that amount to 5 million yuan.
"China wants a system that's more like ours. They want to move up the value chain because they don't want to be the low cost manufacturer of other people's inventions but they want to be the actual inventors and creators," said Michelle Lee, director of the U.S. Patent and Trademark Office (USPTO) in an interview with intellectual property media platform IAM.
"They recognize that they need an intellectual property system that is more like ours and they are making changes legislatively to their patent law, copyright law, trademark law and contemplating changes to their trade secret laws."
A report on patent enforcement in China released by the USPTO noted "the importance of China as a growing market for U.S. companies that rely on intellectual property (IP) and the need for China's patent regime, and IP regime more generally, to provide a reliable, transparent, and fair system."
The report sited improvements China has made in protecting intellectual property, however, it said there is still a need for further progress in certain, key areas particular to enforcing IP laws.
TagsChina Considers Harsher Penalties for Patent Violations, draft revision of China’s Patent Law, Chinese Patent Law, Intellectual property theft, intellectual property, patent laws, U.S. Patent and Trademark Office, Chinatopix
©2015 Chinatopix All rights reserved. Do not reproduce without permission
EDITOR'S PICKS
-
Did the Trump administration just announce plans for a trade war with ‘hostile’ China and Russia?
-
US Senate passes Taiwan travel bill slammed by China
-
As Yan Sihong’s family grieves, here are other Chinese students who went missing abroad. Some have never been found
-
Beijing blasts Western critics who ‘smear China’ with the term sharp power
-
China Envoy Seeks to Defuse Tensions With U.S. as a Trade War Brews
-
Singapore's Deputy PM Provides Bitcoin Vote of Confidence Amid China's Blanket Bans
-
China warns investors over risks in overseas virtual currency trading
-
Chinese government most trustworthy: survey
-
Kashima Antlers On Course For Back-To-Back Titles
MOST POPULAR
LATEST NEWS
Zhou Yongkang: China's Former Security Chief Sentenced to Life in Prison
China's former Chief of the Ministry of Public Security, Zhou Yongkang, has been given a life sentence after he was found guilty of abusing his office, bribery and deliberately ... Full Article
TRENDING STORY
-
China Pork Prices Expected to Stabilize As The Supplies Recover
-
Elephone P9000 Smartphone is now on Sale on Amazon India
-
There's a Big Chance Cliffhangers Won't Still Be Resolved When Grey's Anatomy Season 13 Returns
-
Supreme Court Ruled on Samsung vs Apple Dispute for Patent Infringement
-
Microsoft Surface Pro 5 Rumors and Release Date: What is the Latest?