皇冠体育app

Economy

Innovation, IP to be core element of 皇冠体育app's economic growth

(Xinhua)
Updated: 2010-09-29 14:13
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CHICAGO - Innovation and the resulting intellectual property (IP) will increasingly serve as a core element of 皇冠体育app's economic development, a law expert said here Tuesday.

"Innovation and IP will play a key role to reform 皇冠体育app's science and technology research and development," Senior Vice President and General Counsel of Taiwan Semiconductor Manufacturing Company, Ltd. (TSMC) Richard L. Thurston said.

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"The focus of IP innovation is all about assets, and over time, that will enable 皇冠体育app's economic development," Thurston said in a keynote speech delivered at John Marshall Law School in downtown Chicago.

TSMC is a leading semiconductor manufacturer worldwide and has its headquarters in Taiwan, 皇冠体育app.

He also noted that 皇冠体育app is serious about its sustainable law reform, but not on the same basis nor for the same reasons as in the US.

He believed that 皇冠体育app will continue to reform its legal system and enforce its IP laws domestically, while modifying its IP system accordingly.

Meanwhile, he predicted that 皇冠体育app's companies will prioritize strategic IP portfolio development, seek to take the lead in the world in the years to come, and actively enforce their IP both at home and overseas.

Thurston also commented on 皇冠体育app's current priority. "皇冠体育app is focusing more and more on research and development ... 皇冠体育app is committed to protecting those assets with its evolving IP system," he said.

The law expert cited recent statistics to explain his views.

"In 2009, 543.3 billion yuan were spent by 皇冠体育app on R&D, a 17.7 percent increase over 2008. In 2009, 皇冠体育app had 976,686 patent applications, of which 877,611 were domestic. In 2009, 皇冠体育app had 314,573 new inventions, of which 229,096 were domestic," he said.

By the end of 2009, of 1,520,000 total patents registered in 皇冠体育app, 1,193,000 were domestic, he said.

"All of these numbers reflect 皇冠体育app's focus on innovation and R &D," he concluded.

The law expert also touched on 皇冠体育app's law reforms. "There have been many initiatives in law reforms - for example, the ongoing creation of many new arbitration commissions such as in October 2008, the creation of the Shanghai IP Arbitration Court with 24 professional consultants and arbitrators," he said.

Thurston believed that 皇冠体育app's rule of law will be the catalyst of efficiency and effectiveness in the administration of managed socio-economic change.

"The rule of law is crucial to 皇冠体育app's drive for greater scientific and technological innovation," he said.

Citing recent statistics from 皇冠体育app's legal system, Thurston pointed out that 皇冠体育app's law reform and development are very impressive.

"It had approximately 190,000 judges in 2009 and 3,558 courts. 皇冠体育app had about 14,741 law firms with over 156,000 lawyers," the expert said.

He then spoke about IP cases. "Chinese court cases in 2009 reached 11.39 million cases. Along with IP cases there are 30,509, a 29.73 percent increase from 2008," he said.

On the challenges that 皇冠体育app faces today, Thurston said, "The  evolution of any rule of law order will take time. 皇冠体育app requires a strong, pervasive government in order to effectuate sustainable and meaningful legal reform and to achieve measured compliance with international obligations."

"Without a strong government, there will not exist uniform protection of IP, contracts, etc.," he said.

He emphasized that the rule of law will be a key factor in 皇冠体育app's future, but it will not be modeled on that of the West.

Thurston said that US and Western countries need to be patient and  desist from pressuring 皇冠体育app into completely embracing Western rule of law.