Patent importance backed by grants to Hengqin firms

Applications for intellectual property (IP) subsidies are open to Hengqin businesses certified with patents in 2016.

Issued by Hengqin authorities to raise awareness of IP rights and reinforce IP creation, a subsidy of 10,000 yuan ($1,481) each will be granted for those with domestic patents. In addition, 50,000 yuan ($7,403) will be granted for each patent authorized in the US, Japan, or the EU, and 30,000 yuan ($4,440) for a patent authorized in other countries and regions. Each enterprise can apply for a maximum annual funding of 500,000 yuan ($74,035), with the deadline for online applications being July 28.

Guangdong-Macao Traditional Chinese Medicine Technology Industrial Park in Hengqin New Area [Photo courtesy zgjymx.com]

Additionally, a one-time award of 20,000 yuan ($2,960) will be granted to enterprises acquiring at least six domestic patents for utility model patents, software copyright, and certificates of integrated circuit layout design. Likewise, a subsidy of 5,000 yuan ($740) will be awarded to each utility model patent or design patent authorized in other countries and regions.

In support of the establishment of an IP safeguard aid system, Hengqin New Area is encouraging companies to stand up for their rights in accordance with the law. Local authorities promise to cover 50 percent of judicial appraisal, notarial, legal, and arbitration fees, should the infringed company apply.