Guangzhou’s Huangpu District has introduced a new policy seeking to stamp out intellectual property rights violations by enlisting the professional services of Hong Kong and Macau companies. And it has serious money to spend in achieving this.
Companies engaged in IP-related services, such as institutional settlement, talent recruitment, arbitration and mediation, rights protection, and financial support for such services, could get significant subsidies. Up to 200,000 yuan will be available as start-up funds for agencies set up by residents of Hong Kong and Macau who have been actively engaged in intellectual property services for a year.
That is not all: If the annual main business income reaches more than 5 million yuan, a one-time reward of 500,000 will be given, and Hong Kong and Macau residents who have national intellectual property related qualifications will be awarded 20,000 yuan per person.
Moreover, companies that engage in related rights protection activities in Hong Kong and Macau can receive a 50% subsidy for arbitration fees and a lawyers’ fee of up to 1 million yuan. At the same time, the fund will support the Guangzhou Intellectual Property Court, Guangzhou Intellectual Property Arbitration Court, and Huangpu District Court to form a team of Hong Kong and Macau jurors, arbitrators and mediators, providing them a personal reward of 20,000 yuan per year.
Coming next will be the establishment of a one-stop service platform for intellectual property finance, which will encourage companies to use Hong Kong and Macau standards of intellectual property rights to adopt diversified methods for financing, and provide corresponding financing support to reduce the actual cost of enterprises. Meanwhile, the intellectual property rights of Hong Kong, Macau and Singapore will enjoy the same treatment as those of the Mainland in the awards and subsidies under the new policy.