Letters | Becoming China’s intellectual property hub holds great promise for Hong Kong
- Readers discuss how Hong Kong can spearhead the creation and management of platforms to enforce and license the large volumes of China-sourced IP, and the advantages the city has for those willing to grab them
However, China-sourced IP punches much below its weight. You hardly ever hear about big damage awards overseas based on China-sourced IP. There is little expertise and rarely the will by small and medium-sized enterprises to enforce China-sourced IP overseas, where made-in-China products can be selling for up to 10 times the factory prices in China. That is leaving way too many chips on the table.
I have attended a number of Hong Kong Forums over the years. It was not unusual for Western presenters to recount the successes of utility patent pools and how those in the West are looking for new technologies to implement similar strategies.
Hong Kong ‘must strengthen IP protections if hopes to become innovation hub’
For a simple summary, build a platform to sell NFTs securely and confidentially in new designs to raise funds to register the IP to be placed into the pool. Use artificial intelligence to monitor infringement and automate enforcement demands. Coordinate the retention and management of contingency law firms around the globe to enforce claims where the infringers refuse to pay, bringing legal action where the damage recoveries are the highest.
The platform can also serve to mediate disputes among conflicting claims of members. When the income streams get substantial, the portfolios can even be securitised, such as by taking them public on the stock market.
All of these are well within Hong Kong’s capabilities. The opportunities are tremendous.
Danton Mak, Pasadena, California
Hong Kong is still a great place for making money
I came to Hong Kong in 2010 with dreams in my head. After spending 12 years here, I have earned myself a 500 sq ft flat to live in and a decently sized, self-owned office.
Those in the trading business in Hong Kong know it is possible to get paid in advance for a pro forma invoice because the world knows Hong Kong people are honest. It has taken a long time to gain this reputation.
The bottom line is that there are three ingredients of a good life: learning, earning and yearning. Hong Kong has all three of them in ample quantities. Grab it with both hands.
Jain Bikash Kumar, Tsim Sha Tsui