Shanghai opens IP rights transaction center

An intellectual property rights (IPR) transaction center was established on Friday in Shanghai.

The center will support IPR evaluation, transfer quotation, transaction authentication, settlement, trusteeship registration and financing.

Shanghai has seen a growing number of IPR applications in recent years. During the first 11 months of 2016 the city received 105,000 patent applications, a rise of 22.6 percent from a year before.

Lyu Guoqiang, head of Shanghai Intellectual Property Administration, said the center is a facet of Shanghai's economic restructuring.

The center will improve the exchange system and policies and assist monetization of intellectual property rights, offering discounted services to small and mid-sized enterprises. Endi