IP creates value, catalyzes growth and adds value to economy, society, WIPO head says

Resumen detallado

Intellectual property is not an end in itself, but a way to create value, catalyze growth and transform an idea into something valuable to the economy and society. Helping more such inventions successfully reach the market is increasingly the goal not just in China, but in all countries around the world, World Intellectual Property Organization Director-General Daren Tang said at a fair on Friday.

"They also act as a bridge that facilitates the deep integration of scientific and technological innovation with industrial innovation, and fosters the development of new-quality productive forces," he said.

The administration has strived to advance institutionalized, regular, and long-term patent transformation and utilization, yielding notable results. Moving forward, it will accelerate the establishment of an efficiently coordinated intellectual property supply system, deepen targeted matching between patent supply and demand, boost patent transaction and commercialization, and speed up the realization of patent…

"High-value patents will empower the transformation and upgrading of traditional industries, the growth of emerging industries, and forward-looking planning for future industries," he said.

Tang cited the example of Fluzoparib, a medicine developed in Jiangsu.

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