Calls to commercialize IP to stimulate innovation

Intellectual property industry insiders called for the integration of IP and market demand at arecent forum themed "Open innovation" in Nanning, the capital city of the Guangxi Zhuangautonomous region.
The forum, organized by the China Enterprise Confederation and wtoip.com, a leading Chineseonline IP trading and service marketplace, attracted more than 1,200 delegates, includinggovernment officials, scholars and executives from companies, IP agencies and associationsfrom China and overseas.
It was part of a summit for China's top 500 companies held on Saturday and Sunday.
Li Mingxing, vice-chairman of the China Enterprise Confederation, said in his opening addressthat open innovation is a requirement for China's sustainable development.
"The nation's sustainable development depends on innovation in industrial technologies,management systems and business models to optimize development quality and seek newsources for development," he said.
He called for collaboration among production, teaching and research sectors and improved IPrights protection and utilization mechanisms to encourage innovation, and suggested thatChinese companies and institutions improve their innovation capacity by seeking majorbreakthroughs in key fields and technologies.
Xie Xuhui, CEO of wtoip.com, said IP is a resource that needs global deployment.
"Like commodities, intellectual property should be able to flow freely across the world, instead ofbeing left unused, to promote technical advancement among different countries in a coordinatedway," Xie said.
"It requires many other resources to integrate IP with production, such as experts, equipment,labs and product design, and that entire industry chain makes for the commercialization of IP," hesaid. "It is a big project."
He also suggested that financial and investment institutions always pay attention to IP financingas the sector "will greatly stimulate innovation".
"Many companies involved in the IP commercialization and financing businesses will become thecreators of China's new economy," he added.
Jayson Pankin, co-founder and president of Detroit-based AutoHarvest Foundation, a nonprofitorganization specializing in IP management, used examples to highlight the importance of patentpackages.
An air seat belt system developed by Ford has integrated characteristics of ordinary seat beltsand air bags to better protect children and the elderly in cars. Also, a system developed byHyundai has combined many technologies such as information tracking, 3-D navigation anddriver distraction prevention.
Pankin said that each single patent is not complex, but they become powerful when combined.
AutoHarvest and wtoip.com started a partnership in March to share information and promote IP-related exchanges between companies, investors, engineers and scientists in China and theUnited States.
Thanks to the cooperation, Chinese companies can find the IP resources they need in the US, aswell as new opportunities for development by establishing partnerships with their UScounterparts, Pankin said.
The State Intellectual Property Office signed an agreement with the government of Guangxi lastmonth to help it improve its IP capacities.
"Guangxi has been attempting the integration of intellectual property and its regional economy,"said Xie Naitang, head of the Guangxi administration for science and technology. "IP isemerging as a pillar to support industrial development."
Guangxi introduced and industrialized 26 invention patents from outside the autonomous regionin 2014, leading to total output value of nearly 800 million yuan ($125 million) thus far.