CNIPA & PICC Jointly Issue First Report on IP Insurance in China

Recently, the Intellectual Property Development and Research Center of the China National Intellectual Property Administration (CNIPA) and the PICC Property and Casualty Company Limited (PICC) jointly issued the White Paper on the Development of China's Intellectual Property Insurance (2022), which is the first industry report of its kind in China.

The white paper shows that as of the end of 2022, intellectual property (IP) insurance services have been launched in a majority of provinces across the country, providing an accumulative risk coverage of over RMB110 billion for more than 46,000 patents, trademarks, geographical indications and integrated circuit layout-designs of 28,000 plus companies.

The report said that the insurance, as an important IP finance that helps alleviate IP risks for enterprises, covers a wide range of IP type, including patents, trademarks, copyrights, geographical indications, layout-designs of integrated circuits, trade secrets, and new varieties of plants, and has been applied to various dimensions including creation, protection and application of IP.