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31.8 Billion Yuan of Patent Pledge Fuels Entrepreneurship

Post Time:2017-08-21 Source:sipo Author:Wang Yu Views:
“It is really beyond our expectations.” Recently, a person in charge of Qingdao Lasence Co.,Ltd in Shandong province was greatly inspired after obtaining the patent pledge. A loan credit amount of 80.6 million yuan was recently granted in Qingdao by the agent of Qingdao IP Business Centre. The first group of 23 enterprises received combined 77.6 million yuan by patent pledge. A new type of insurance called patent pledge loan guarantee insurance was established by the China Insurance Regulatory Commission, and would be promoted to the whole country after initial test in Qingdao.

In October 2015, the State Intellectual Property Office (SIPO) and four other ministries issued the Opinions Further Promoting IP Utilization and Protection to Facilitate Innovation and Entrepreneurship. According to the Opinions, IP evaluation, pledge and circulation system would be established, and banks and investment organizations would combine investment and loan to explore a way of allowing patent license for pledge to benefit innovators. Based on the Opinions, many provinces made local rules to promote IP pledge.

According to the latest data from SIPO, in the first half of 2017, 31.8 billion yuan of patent pledge was added in China, with a year-on-year growth of 92%. 1,493 patent pledge projects were confirmed, with a year-on-year growth of 41%. Liaoning, Jiangsu, Shandong, Beijing and Tianjin led all provinces in amount granted while Shandong, Shaanxi, Anhui, Jiangsu and Guangdong were the top five in number of projects.

In May 2017, SIPO published some key points of promoting patent pledge in 2017, including building a market-driven system of IP pledge , insurance and guarantee, motivating financial institutions, service agencies and enterprises in IP pledge, promoting IP pledge into market-driven and large-scale development.

In the near future, SIPO will strengthen communication with the People’s Bank of China and China Banking Regulatory Commission, to build an examination mechanism in IP pledge, motivating banks in granting IP pledge loan. Moreover, SIPO will attract innovators in strategic emerging industries, service industries, rehabilitation therapy industries and overseas returnees by strengthening IP pledge service to support hi-tech industries development.

“As an important kind of intangible assets, IP can be directly invested as an asset to promote innovation and entrepreneurship. Patent pledge can play a role of a backup engine of innovation enterprises. It helps improve the market environment of innovation, promote positive circulation of innovation resources, and benefit transformation and upgrading of enterprises by IP operation,” said Li Shunde, research fellow of Law Institute under the Chinese Academy of Social Sciences.
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