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

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.

"This is why WIPO's work is no longer just devoted to IP protection and registration but also IP utilization and commercialization," he said at the opening ceremony of the 15th China International Patent Fair and the 26th WIPO–CNIPA Awards held in Wuxi, Jiangsu province.

"To do this well, we cannot just rely on good IP laws, but must build a vibrant IP ecosystem."

This fair's theme is "Patents Bridge Innovation, Commercialization Unlocks Value". About 1,500 participants from IP-related authorities at the global, national, provincial and municipal level joined the opening ceremony, as well as representatives from colleges, research institutes, companies and financing organizations.

Chen Fuli, secretary of the Party Leadership Group of the China National Intellectual Property Administration, agreed that patent transactions and commercialization serve as a vital channel to realize the value of intellectual property rights.