IP Monetization in China
— Dr. Chung Presents in the Cross-Strait Roundtable Meeting in Xiamen, China
On November 13th, Dr. Chung, author of Innovation’s Crouching Tiger, was invited to participate in the 2020 Taiwan Straits Intellectual Property Roundtable, which was held with experts and scholars in the intellectual property sector from both sides of the Taiwan Straits, giving a talk on "Intellectual Property Finance across the Taiwan Straits – Exchanges in Academia and in Practice”.
The meeting was opened with a speech by Professor Lin Xiuqin, Dean of the Institute of Intellectual Property Studies of Xiamen University, followed by key notes from Yan Zhihuang, Director of the Intellectual Property Bureau of Fujian Province, and Liu Jiangbin, Emeritus Professor of Taiwan University of Political Science.
In the following sessions, under the auspices of Li Mingde, Executive Vice President of the China Intellectual Property Law Research Association; Guo Wei, Professor of the Intellectual Property School at Chinese Min University; Yu Xin, President of the Fujian Intellectual Property Association; and Xiao Dongmei, Dean of Xiangtan University Law School, nearly 30 experts and scholars from both sides of the Taiwan Straits participated in speeches and discussions.
The conference was organized by Xiamen University Intellectual Property Research Institute, National Intellectual Property Training (Fujian) Base, and National Intellectual Property Strategy Implementation Research Base (Xiamen University), supported by Fujian Intellectual Property Bureau. Ms. Jacky Zhang, director of the Xiamen Office of SpringIP Group, also participated in the meeting.
In Dr. Chung's talk, he first introduced SpringIP’s business model, which is to utilize artificial intelligence to integrate big data across various disciplinary areas, with the goal to help the top decision makers think out of the box when exploring the growth and transformation opportunities of their enterprises.
Animation of China's First Intellectual Property Securitization Deal
Dr. Chung shared an animated video produced by SpringIP. This was the debut of China's first animation illustration for IP securitization, analyzed in twelve steps, and three legal relationships. The video aroused the enthusiastic attention of experts and scholars attending the conference.
Dr. Chung made a point to share that the first IP securitization deal was launched in 2019 and now the accumulated volume of deals launched has exceeded 10 billion yuan. Such IP securitization deals leverage financial markets to enlarge the economic influence of high-value intellectual property rights. At the same time, it solves the financing needs of science and technology enterprises. At this front, Taiwanese academic circles in the 1990s have obtained marvelous research achievements.
During his time as a Ph.D. student at Peking University from 2004-2008, Dr. Chung also made extensive references to the research of Taiwanese scholars. Later, in 2012, he revised his dissertation and published it as a book, which became one of the most important reference materials today for market participants in IP securitization. This story is a good example of how Taiwan's solid legal research, with the vast market and aggressive experimentation in Mainland China, constitutes the beneficial exchange of intellectual property theory and practice, which has produced great potential to promote high-quality economic development.
The first not-for-profit social platform for IP finance is recruiting
Although Dr. Chung now is leading SpringIP Group dedicated to AI innovation – due to this experience and connection – he continues to participate in the exploration of intellectual property finance. He summoned experts and scholars in the relevant fields, to set up ipfinance.cn, the first not-for-profit social media platform with a focus on the exploration of intellectual property finance in China. This project is currently recruiting the participation of graduate students to join in.