Hong Kong to Forge Data-Sharing Agreement with United Nations Intellectual Property Organization, Confirms Paul Chan
On Monday, the Hong Kong government will sign a memorandum of understanding (MoU) with the World Intellectual Property Organisation (WIPO). The announcement was made by Hong Kong's Finance Chief, Paul Chan Mo-po, on Sunday.
The MoU aims to promote highly efficient development in the intellectual property, innovation, technology, and finance sectors. According to Chan, intellectual property is seen as an industry that could complement other sectors with traditional strengths in Hong Kong.
Under the terms of the MoU, Hong Kong's judiciary will be able to share landmark judgments in the field of intellectual property with the WIPO Lex judicial decisions database. This database currently contains about 2,200 case decisions from more than 40 jurisdictions.
The deal is expected to facilitate the sharing of relevant court judgments between Hong Kong and WIPO. This will help in safeguarding research investment and value creation for inventors and technology companies. Professional valuations are important to allow patents to be traded or used as collateral for financing.
The MoU is part of the strategies to foster the development of the intellectual property industry in Hong Kong. It is also intended to mutually support the development of these sectors.
Besides Hong Kong and WIPO, no other specific parties are mentioned as being involved in the announced contract signing. The search results do not provide information about additional participants. The specific sectors with traditional strengths in Hong Kong and the nature of the deal's implications remain unclear due to the lack of prior context.
The MoU highlights the importance of intellectual property as an emerging high-value industry. It is expected to be a significant step forward in Hong Kong's efforts to strengthen its position as a global hub for intellectual property and innovation.
