In this week’s Patent News – New MoU enables patents registered in South Korea to have the same effect in Laos; USPTO launches Fast-Track Appeals Pilot Program; Baidu joins Open Invention Network; China to establish 33 centers to strengthen IPR protection; KIPO adopts 14 methods to boost IP Financial Investment market to 1.3 trillion by 2024; WIPO to host Intellectual Property Judges Forum and other news updates.
INTERNATIONAL PATENT NEWS UPDATE
New MoU enables patents registered in South Korea to have the same effect in Laos
The Korean Intellectual Property Office (KIPO) and the Department of Intellectual Property of Laos recently signed an MoU to the effect that all patents registered in South Korea will have the same validity in Laos. The MoU has been implemented from 1st July 2020. As reported by Business Korea, the patent examination procedure in Laos will be substituted with the submission of a few documents. The registration process can be expected to be completed within six months from the date of this submission.
In August 2019, KIPO signed a similar MoU with the Cambodian Ministry and the agreement came into effect in November.
USPTO launches Fast-Track Appeals Pilot Program
The United States Patent and Trademark Office (USPTO) has announced that the Patent Trial and Appeal Board (PTAB) has started accepting petitions for expedited resolution of ex parte appeals under the “Fast-Track Appeals Pilot Program” from 2nd July 2020. As per the official notice, “The Fast-Track Appeals Pilot Program serves as an extension of the Track One prioritized examination program. For the first time in USPTO history, applicants will be able to speed up both patent examination and ex parte appeals, thus obtaining decisions on their most important inventions in about half the time of a typical application.” The notice also explains that USPTO is expecting all ex parte Appeals to be decided within six months from the date on which the Petition is granted.
The statutory fee for filing the petition is $400. USPTO has said that office will accept a maximum of 500 petitions, per fiscal year or 125 petitions per quarter.
You may click here to access the official notice.
China to establish 33 centers to strengthen IPR protection
China has reportedly approved the establishment of 33 centers in the country to reduce the processing time and cost of IPR protection. The Head of the Protection department of the National Intellectual Property Administration, Zhang Zhicheng, said that the IPR centers will provide assistance to more than 20 industries such as IT, Biomedicine. According to a news agency Xinhuanet, the establishment of the centers is expected to strengthen IPR protection in China.
Baidu joins Open Invention Network
China’s largest multi technology company, Baidu, Inc. recently announced that the company has joined the Open Invention Network (OIN) as a member. The CEO of OIN, Keith Bergelt, said “Artificial intelligence-driven and internet-based services continue to spawn new industries while advancing business performance through actionable intelligence. As a global leader in internet and AI-related services and products, Baidu recognizes the benefits of shared innovation inherent in open source. We are pleased Baidu has joined our community.”
OIN is a patent non-aggression community that focuses on cross-licensing key Linux System patents to its members on a royalty-free basis. The OIN also offers royalty-free licenses for its patents to other organizations on the promise that they will not assert its patents against Linux Systems.
You may click here for more information on OIN.
KIPO adopts 14 methods to boost IP Financial Investment market to 1.3 trillion by 2024
The Korean Intellectual Property Office (KIPO) has announced that the office will be adopting 14 methods to boost its IP Financial Investment market. As per Korean Herald, the 14 special tasks will provide a means for individuals and firms to directly invest in intellectual property and simultaneously earn profits from royalties and sales. The methods adopted by KIPO is expected to boost its IP Financial Investment market from 34.3 billion won (in 2019) to approximately 1.3 trillion won by 2024. Further, the Korean Herald said that the 14 tasks will be implemented through 4 pillars, namely –
- Funneling quality IP rights to the market,
- Producing a range of investment items that could cater to different investors,
- Bringing capital inflow to the investment products, and
- Establishing market-friendly platforms
KIPO has said that the office will launch a special call center to provide assistance to individuals on IP investments and more. The office also plans to create 20,000 new jobs. In addition to the above, KIPO will be revising the Rules governing patent disputes and dispute settlement mechanisms to help MSME’s and offer then a chance to negotiate the terms of the licensing and earn profits without incurring any financial loss. Further, financial institutions run by the State will offer IP courses to their Patent Attorney programs. The objective of this is to have trained experts in the subject.
WIPO to host Intellectual Property Judges Forum
The World Intellectual Property Organization (WIPO) will be hosting the Intellectual Property Judges Forum between the 13th and 15th of November 2020. As per the official notification, participation is limited to the members of the judiciary, and members of quasi-judicial, administrative tribunals that are active in adjudicating intellectual property disputes. The objective of the Forum is to provide a platform for Judges from all over the world to exchange ideas and find solutions to overcome challenges in the field of IP.
Authored and compiled by Vibha Amarnath
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