The websites CRI and EastDay said that the legislative action took place today (Friday) at the end of the NPC’s bimonthly session.
The new law will go into effect on May 1 next year. It is the third time the 1982 Law has been amended, after previous revisions in 1993 and 2001.
According to the reports, the amendment increases the maximum amount of compensation for trade mark infringement to RMB3 million ($500,000), more than was proposed in the most recent draft. The existing maximum is RMB500,000.
It also addresses protection for well-known trade marks and aims to improve the trade mark registration process.
For more background, see:
Bad faith and well-known marks to be curbed in China
China reform to quadruple trade mark damages
Managing IP will bring more details and analysis in the next few days.
