By: Thom Abbott, Business Development Director- Asia
Foresight’s CEO, Dr. Phyl Speser, was an invited speaker at The 2nd International IP Monetization and Commercialization Forum 2016 in Suzhou, China June 26-27th, 2016. This event was an opportunity for Foresight to learn more about the Chinese market and get a feel for the appetite of various players, academic, government and industry for the further development of the IP field in China.
One of the most telling parts of the meeting was the clear interest in improving the IP sector and the respect for IP in China and not just amongst the government participants speaking, but also for the real development of innovation and cross border interaction at a global level. From the very balanced speech of Mr Yong Lontu, a former deputy minister of foreign trade and economic cooperation, to the small business owner concerned about how best to protect his inventions in China and consider the international markets, to the recently returned Chinese academic, IP and the growth in its importance in China over the past few years was clearly at the forefront of their mind.
It was clear from the meeting and the interactions we had, that although there are risks, and some clear differences in the Chinese IP system, it is developing and more and more realistic for a foreign company if careful to protect their IP effectively, mainly because it is fast being recognised how important it will be in shifting the country further from being the factory of the world, to the innovation centre it is fast becoming.
Thanks again to all of the hosts of the event, who made sure we were able to enjoy our time in China, and gave us the opportunity to try all the wonderful cuisine and some of the beautiful scenery the country has to offer!