On September 18th, at Sinoway Pharmaceutical located in the Sanmenxia Economic Development Zone, a brief and enthusiastic ceremony for the disbursement of funds for the award and subsidy for intellectual property insurance took place. The award and subsidy with a total sum of 27,000 yuan was given to the company, which was also the first disbursement of funds for awards and subsidies for intellectual property insurance in Sanmenxia.

In March of this year, Henan Municipal Intellectual Property Office and Henan Provincial Finance Department issued the notification on carrying out the second batch of applications for patent transformation projects. According to the requirements, Henan Provincial Finance Department and Henan Municipal Intellectual Property Office shall provide awards and subsidies for intellectual property insurance. In order to vigorously implement the intellectual property strategy, comprehensively enhance the capabilities of enterprises in the creation, utilization, protection, and management of intellectual property, and to address the challenges of “difficult evidence presentation, long cycles, high costs, and low compensation” in intellectual property right protection, five enterprises in Sanmenxia, including Sinoway Pharmaceutical, have taken the lead in obtaining insurance for their intellectual property.

Providing enterprises with awards and subsidies for intellectual property insurance is a specific measure to promote patent transformation and the innovative development of micro, small and medium-sized enterprises. The initiative is designed to convey a strong signal to the entire society that “innovation is the primary driving force for development, and protecting intellectual property is protecting innovation.” As a policy benefiting and assisting enterprises, the implementation of the award and subsidy policy and disbursement of funds will help more enterprises in Sanmenxia develop an intellectual property creation platform integrating research, development, transformation and application based on their own research and development capability and further encourage enterprises to do well in the cultivation and transformation of high-value intellectual property patents. This, in turn, provides confidence in protecting independent innovative patents and encourages enterprises to turn intellectual property into assets, transforming their innovative advantages into a true competitive edge for high-quality development.

In recent years, with the coordinated advancement of intellectual property-related departments, the intellectual property business environment has been continuously optimized, administrative protection of intellectual property has been continuously strengthened, the quality of intellectual property creation has continued to improve, the benefits of intellectual property application have become increasingly apparent, and the supportive role of intellectual property protection in the healthy development of enterprises has become more prominent.