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ARTICLE · 09 FEBRUARY 2024

Patent Open Licensing – "Ebay" For Patents

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China's robust growth in science and technology, coupled with the implementation of the Patent Strategy...

ChinaIntellectual Property
Jinghuan Jia
Jinghuan Jia
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Ⅰ. Background

1. Necessity of patent commercialization to take advantages of the volume of patents

China's robust growth in science and technology, coupled with the implementation of the Patent Strategy, has resulted in a significant increase in both the quantity and quality of patents. Despite this, there remains a need for effective patent commercialization. Based on the report from the China National Intellectual Property Administration (CNIPA), China granted a substantial number of invention and utility model patents in 2023, indicating a strong demands on intellectual property (IP) commercialization. However, the overall patent commercialization rate is perceived to be low considering the high volume of granted patents. Thus, it is necessary for patentees to generate revenue from their patents, and similarly important to the industries to convert patents into products to prove the value of their inventions.

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