$110m in deals sealed at Guangdong IP Trade Expo 2017

More than 9,100 intellectual property (IP) items involving nearly 19,000 patents were showcased at the Guangdong Intellectual Property Trade Expo 2017 held in the Guangdong capital on Aug 31, with IP trade reaching 720 million yuan ($110 million).

Organized by Guangdong Intellectual Property Office and People's Government of Guangzhou, the event is the first expo themed on IP to be held in Guangdong province. Integrating patent trade, intellectual property exhibition, forums and roadshows, the expo attracted more than 180 institutions including 18 IP institutions hailing from overseas.

The Guangdong Intellectual Property Trade Expo 2017 is held in Guangzhou from Aug 31 to Sept 1. [Photo provided to chinadaily.com.cn]

During the expo, two IP auctions were held with a total of 15 patent portfolios sold for 31 million yuan. Moreover, the service time of six weeks for three patent agents was also sold for 306,000 yuan at the auctions.

Xie Hong, director general of Guangdong Intellectual Property Office, said that trading IPs helps realize the value of innovation and promote the supply-side restructure and upgrading.

A key component of the Guangdong Intellectual Property Trade Expo 2017 is a special entrepreneurship and innovation competition. The competition was launched on Sept 1, with more than 500 people from investment organizations, business associations, universities and companies taking part. The winner of the competition will receive an investment of 16.8 million yuan from Hong Kong-based Angel Investment Foundation. 

Deals worth 720 million yuan are sealed at Guangdong Intellectual Property Trade Expo 2017, according to a press conference held on Sept 1. [Photo/gd.chinanews.com]

A special intellectual property entrepreneurship and innovation competition is launched at the expo. [Photo/xinhuanet.com]