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 | Wednesday, April 19, 2000, updated at 16:28(GMT+8) | ||||||||||||
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China to Establish Intellectual Property Rights Evaluation SystemA senior official of China's State Intellectual Property Rights Bureau said on Tuesday that a complete intellectual property rights evaluation system will help speed up the commercialization of intellectual property in the domestic market.Hu Zuochao, head of the Coordination and Management Department of the State Intellectual Property Rights Bureau, said that the evaluation of intellectual property rights is a product of the market economy as well as an important aspect in the commercialization of intellectual property rights. Hu said that China started to regard intellectual property rights as an object for the evaluation of intangible assets in 1989. The first intangible assets evaluation office was born in Shenzhen, the forward position of reform and opening up. Statistics show that there are now more than 10 specialized intangible assets evaluation offices in China. Besides, ordinary comprehensive evaluation offices also undertake the work of intangible assets evaluation. The nation boasts an excess of 3,800 such offices employing a total of 62,000 people, including 14,000 registered evaluators. Hu stated that the capital evaluation industry has a history of more than 10 years in China.. Asset appraisal has become a newly-emerging industry with an independent contingent. However, approached from the angle of intangible assets evaluation, a mature system has not been formed in terms of organization, staff and regulations. In principle, the intangible assets is still appraised in the way tangible assets are evaluated. He remarked that the main problem currently existing in the development of China's evaluation industry is how to distinguish between intangible assets evaluation and tangible assets evaluation. This work should be standardized, so that there are regulations to follow. China's State Intellectual Property Rights Bureau is studying matters concerning the concrete methods, procedures and the choice of related parameters for patent asset evaluation, striving to work out a standard document as quickly as possible. Hu also emphasized the need to improve the examination and management system for asset evaluation personnel, so as to guarantee the sound development of this industry. Since the patent system was introduced into China 15 years ago, the patent office has handled more than 1 million patent applications. Patent has become an important part of intangible assets of the enterprises.
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