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Astonishing Price Paid at Patent Auction

December 1, 2008
An auction for the 2008 Shanghai Patent Trade Week was held on November 20 at the hall of the Shanghai Association for Science & Technology. Eight patents were put on the block, and fetched 33.86 million Yuan. The top three were all bio-pharmaceutical patents, including “Keratinocyte Growth Factor-2” that sold for an astonishing price of 18 million Yuan.

Patent auction has become an internationally popular way for patent transfers and trades. “Success of the auction showed an increasing attention to intellectual property at home, and the environment for patent trade is mature,” said Lin Yiping, general manager of Shanghai Auction Co., Ltd, organizer of the event. Previously, domestic auctions rarely yielded a price in the 10-million-yuan range.

“Our patent trade climate is much better now, but still lags behind the world,” said Chen Yong, project service director of Shanghai Intellectual Property Service Center, “we still need the support of government policy, related law enforcement and attention from venture investment companies. We call for more attention and protection for intellectual property.”

　

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