China Daily USA: Foundation seeks to increase US-China understanding on IP

NEW YORK, Dec. 5, 2019 /PRNewswire/ -- The following article was published on Dec. 4, 2019 by China Daily USA.

Industry insiders called for more information exchange on intellectual property between professionals in China and the United States amid growing business between the two countries.

"With so many moving parts in Chinese policy changing so rapidly, and with the relationship between China and the US changing so rapidly, there will be a constant need for information and ways to present (companies') technology and ideas," said Randall R. Rader, a former US federal appeals court chief judge who has more than 25 years' experience in IP and patent law.

Rader made that remarks via a video keynote speech for the US-China Intellectual Property Exchange and Development Foundation grand inaugural event and fundraising dinner on Tuesday in New York. Rader is also a member of the foundation's board of trustees.

Demi Wang, founder and CEO of the foundation, said there is information asymmetry between the two countries' IP professionals.

"The unbalanced information exchange results in much misunderstanding of the two nations' execution of IP regulations," she said.

Shen Chunxiang, an international IP lawyer at Beijing-based NTD IP Attorneys, said "many companies from both China and the US are affected negatively due to a lack of knowledge on each other's law, regulations and real business environment".

"But their demand for IP protection has always been growing with their foreign business expanding," he said. "So now, different sides, including government officials, company leaders and IP lawyers, can exchange their views and know more about each other's real situations, which is quite significant."

"The professional level of the foundation is very important," said Rama Rao, former director of the World Intellectual Property Organization at the United Nations. "Those experienced professionals from various organizations can share opinions via the platform."

Many large companies have their own independent and professional law teams, which can handle the IP portfolios. But many mid-sized and smaller enterprises face obstacles in IP protection, according to Ray Zhao, a partner of Unitalen Attorneys at Law, a leading IP law firm in China.

"As a civil agency able to reach many leading IP-related service institutions and academic resources, the foundation can provide various consulting services, such as applying patents and the commercialization of IP," Wang said.

Rader said IP is a driver of economies, creating new products, ideas and markets.

"Nothing is more attractive for consumers than something new, unprecedented and beneficial," he said. "That's the advantage of IP in general."

He said both China and US have recognized the importance of IP, which is one of the key issues during their ongoing trade negotiations.

"The two nations understand technology development is equivalent to market assets. And IP is what makes all systems work, supports the investment and encourages the conversion of scientific ideas into real usable technologies, products and market assets," Rader said.

China didn't have a patent law in 1984, "but now it has progressed to be one of the world leaders in IP production and policy", said Rader.

China and the US can work together on IP protection to set an example for the rest of the world, Rader said.

SOURCE China Daily USA