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China's First Large Patent Market to Open
China's first large-scale patent trading market will go into trial operation here this month, according to Chinadaily.
The patent market will be "a bridge between patentees and investors", offering patent holders a public trading place to translate their research findings into real products, said an official with the State Intellectual Property Office.
Patentees had no place to sell their ideas before the construction of the trading center, which leads to the low number of patents resulting in actual products, he said.
More than one million patents have been approved and more than 700,000 patents have been publicly announced since China issued its first Patent Law 15 years ago. And new patents grows at a rate of over 100,000 units every year.
The Beijing Guozhuan Patent Trading Market is jointly constructed by the State Intellectual Property Office, the Beijing Patent Bureau and the Dongcheng District government of Beijing, with a total investment of 10 million yuan.
The market will set up a service system providing global archives of related patents and its own website to offer on-line service, the official said.
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