DURHAM: The protection of Intellectual property (IP) rights was a taboo topic in China a decade ago. Counterfeiting and piracy were rampant — an…
DURHAM: The protection of Intellectual property (IP) rights was a taboo topic in China a decade ago.
Counterfeiting and piracy were rampant — an inconvenient truth for the general public and an embarrassment for the local and central governments.
But today, although IP infringement is still a serious issue, Chinese policymakers have begun to recognise IPR protection as key to the success of China’s broader economic goals.
The Chinese government launched the Outline of the National Intellectual Property Strategy in 2008 when the Olympic Games were held in Beijing. The outline indicated that IP rights was to become a “national strategy”.
Counterfeiters and pirates are now confronting new government measures that protect IP rights. They aim to safeguard China’s economic interests because innovation and creativity are set to play a dominant role in China’s future economy.
GREATER INCENTIVE TO PROTECT IP
There are three reasons why China needs to pay attention to IP rights. First, China needs to make use of IP to boost its transformation from a “factory of the world” to a “factory of knowledge and ideas”.
Second, with a more robust IP system China can remain a large recipient of foreign direct investment. Third, stronger IP protection can restore the confidence of China’s trading partners.
According to a 2016 IP Industry Report published by Tsinghua University, 61 of the 100 most successful IP media products in China in that year were internet novels.
A new IP “production line” has developed, which allows authors of internet novels and video-sharing websites to gain immensely from these new developments.
For instance, the very popular internet novel Journey of Flower was purchased by Ci Wen Media in China.
