"Intellectual property is the core
competency of any companies seeking development and innovation
in China," Yuehong Liu, deputy director general of Hunan
Provincial Intellectual Property Office (IP Office), said in
his opening speech to kick off the 2016 China Top 500
This is the 16th year of the annual summit, which took place
in Changsha, Hunan Province in August this year.
During the summit, Hunan IP Office announced the signing of
a strategic cooperation agreement with WTOIP, a Chinese IP
trading platform. WTOIP will assist the local IP Office to
build the IP online trading platform and offer local
enterprises services including IPR verification,
freedom-to-operate searches and IP transactions.
China is adjusting to a sharing economy, which implies
individuals are able to share assets owned by someone else.
Yuehong Liu said the sharing economy is driven by the booming
development of internet and technology.
He also observed that cutting-edge technologies bring new
opportunities and challenges to IP protection in China, which
echoes to the theme of the summit: "How will enterprises
promote invention and innovation under IP law and sharing
Representatives from WIPO and leading Chinese companies also
shared their experiences of protecting IP in China.
Hongbing Chen, Director of WIPO’s office in
China, explained the key to protecting innovation and invention
is to build a healthy ecosystem that requires "an established
judicial system, business environment, education, investment in
R&D, and infrastructures". Chen said intellectual property
is a benchmark for input and output for invention. "The
stronger IP protection is, the higher input-output ratio will
be, and thus more companies are motivated to invent new
technology", he said.
"What is the key to IP protection? It’s the
legal awareness," said Yuanbao Zheng, chairman of People
Electric Appliance Group. This means train the employees and
board members, said Zheng.
Xuhui Xie, chairman and president of WTOIP, said the means
of IP protection and utilization changed under sharing
economics: "Companies have to be ready for this trend - invest
in and plan IP strategy as early as possible."
To wrap up the summit, Jiming Wang of China Enterprise
Confederation announced the winners of the 2016 Top 500 Chinese
corporations of the year. The evaluation is based on
company’s gross revenue in a year.
Top 10 Chinese companies include State Grid Corporation of
China, China National Petroleum Corporation, China
Petrochemical Corporation, ICBC, China Construction Bank, China
State Construction Engineering, Agricultural Bank of China,
Bank of China, China Ping An Insurance and China