The new law raises the
compensation ceiling for a trademark infringement to $500,000, six times the
previous limit, reports Xinhua.
China's legislature on Friday
passed a new trademark law to crack down on infringements and ensure a fair
market for trademark holders.
The new law raises the
compensation ceiling for a trademark infringement to $500,000, six times the
previous limit, reports Xinhua.
After three readings over the
past two years, the revised law was passed at the bimonthly session of the
standing committee of the National People's Congress, China's
top legislature.
The revision was based on
comments from lawmakers, experts and representatives of businesses and
trademark agencies from China
and abroad, said Wang Qing, an official.
Agencies violating the law will
face fines. Those involved in serious cases will have their businesses
suspended.
The new law also offers
protection for renowned trademarks, giving owners the right to ban others from
registering their trademarks or using similar ones—even if such brand names are
not registered.
The draft changed clauses
regarding the examination period of applications for trademark registration to
make it more efficient.
China adopted its trademark law in
1982 and amended it in 1993 and 2001.
As of June this year, China held the
world's largest number of registered trademarks and valid trademark
registrations at 8.17 million and 6.8 million respectively, according to latest
official statistics.
No comments:
Post a Comment