The Wuhan Economic & Technological Development Zone (WEDZ) has rolled out a series of intellectual property right (IPR)-related incentive policies to guide innovative individuals and enterprises on IPR application and protection.
Units whose foreign or domestic invention patents have been authorized will be subsidized at 50 percent of their patent application expenditures by the zone's government.
Winners of the Gold Award, Silver Award, and Excellent Award of China Patent Awards will receive funds of 1 million yuan ($14.55 million), 200,000 yuan, and 100,000 yuan, respectively, for each patent.
Winners of the China Design Gold Awards, Silver Awards and Excellent Awards will receive allowances of 200,000 yuan, 100,000 yuan, and 50,000 yuan, respectively for each patent.
Units which have integrated their patents into the international, national, industrial, regional and group standards they have presided over will be granted bonuses of 1 million yuan, 600,000 yuan, 400,000 yuan, 200,000 yuan and 100,000 yuan, respectively.
In addition, the WEDZ government encourages the securitization of IPR, as well as the formation of innovative IPR-based securities.
