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New Law Amendment to Boost Innovation

    Source: Xinhua

    The new Patent Law in the pipeline will increase protection of rights owners in China, according to the latest draft amendment, submitted on Sunday for review at a bimonthly session of the National People’s Congress Standing Committee. The draft amendment of the patent law proposes increasing compensation for infringement. The compensation amount can be calculated by multiplying the losses of the obligee, the benefits gained by the infringer or the licensing fee by one to five. According to the draft, the statutory compensation granted by court will be increased to 100,000 to 5 million yuan ($14,500-$724,900) from the current range of 10,000 to 1 million yuan, if it is hard to calculate the damage.