Forced transfer of technology and intellectual property has been a continuing issue faced by many countries in China. Multiple efforts by way of 'talks' have been attempted to solve such issues with the Chinese governments. Recently, in furtherance to the U.S. expressing serious concerns with regard to IP protection in China at the G20 summit held in Argentina, China has decided to take strict measures against the entities involved in cases of IP infringement.
China has announced a total of 38 different punishments which shall be applicable to IP violations. These will include the violators being banned from -
- Issuing bonds or other financing tools, and
- Their participation in government procurement.
The infringers will also be restricted from accessing government financial support, foreign trade, registering companies, auctioning land or trading properties.
In addition, violators will be recorded on a list, which will be referred to by financial institutions when lending or granting access to foreign exchange. The names of the violators will also be posted on a government website.
This act is likely to curtail the rampant IP infringement taking place in the country.
Compiled by: Adv. Sachi Kapoor | Concept & Edited by: Dr. Mohan Dewan
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