The Chinese government’s Intellectual Properties Office may have been selling intellectual rights to Australian companies, according to the Australian Bureau of Statistics (ABS).
According to an analysis by the ABS’ Australian Bureau for Economic Research, which examined data from 2013, China’s intellectual property office sold at least one property in the past 12 months, which includes IP in the following categories: design rights; information technology; computer software; media rights; and intellectual property in general.
The report states that intellectual property can be used to develop and develop products, but also to “promote economic development and development of the local community”.
The report also said the number of property sold by the Chinese intellectual property Office in Australia is small and has fluctuated.
The report indicates the IP office has sold about $6 million worth of IP since 2013, which is about $1.2 million a month, or about 10 per cent of its annual budget.
According the report, this number does not include royalties and licenses.
It’s not clear whether the sale of IP has been approved by the Australian government or the Chinese government.
In the past year, the Chinese authorities have been looking at other ways to acquire IP, with the recent sale of intellectual property by the National Development and Reform Commission of the People’s Republic of China to the Hong Kong government.
Topics:law-crime-and-justice,business-economics-and%E2%80%99-budget,economics,international-aid-and_trade,internet-technology,industry,trade,foreign-affairs,china,france,asiaFirst posted January 03, 2019 12:54:00Contact Greg O’Brien