The relation between IP and innovation

Week3:The relation between IP and innovation

My own view about this topic and take China as an example:

 There is a growing recognition that innovation have played a important role in the recent growth of world economies. And Intellectual property also considered as a key value driver for business growth, economic productivity and even wealth creation. Thus, there is increasing awareness about protect and develop the Intellectual property arising from innovation.

And from my prospective I also think IP protection helps drive innovation. For example, China's dedicated work on the recognition and protection of intellectual property are key approaches to achieve innovation-driven development in the country. "Innovation is a key component in the Chinese strategy for economic and social growth and development," said Professor Alan Barrell, director of studies at Cambridge Innovation Academy. So developing country like China must embrace innovation-driven and IP-intensive activities into its business growth. And as the world economy evolved, the China government should correctly anticipated the need to move towards high-tech manufacturing and knowledge-intensive economic activities. Nevertheless, IP challenges are relatively new to a developing nation like China particularly in science and technology Innovation,China is now confronting challenges in its research and development capabilities, as well as in its capacities to formulate standards for manufacturing sector development. in order to achieve its long-term developments goals and avoid the ‘middle-income’ trap, China is ‘on the road’ from a low value-added manufacturing based economy to an innovation-led economy. Thus, China started introduce ‘Made in China 2025’ blueprint in May 2015, listing several task for high-tech manufacturing, including boosting innovation, fostering Chinese brands and enhancing service-oriented manufacturing. Although there are many challenges, China’s 13th 5-Year Plan and the ‘Made in China 2025’ strategy，reinforces the importance of adopting an innovation-driven development strategy both China and Chinese companies. China had create a sustained competitive advantage by focusing increasingly on innovation, so, in 2018, there were more than 432,000 invention patents granted in China, a 5.8 percent year-on-year increase. And more than 148,000 patent applications from foreign entities were submitted, up 9.1 percent from 2017, according to the National Intellectual Property Administration in China. Further speaking, in order to transforming itself into an IP intensive nation in a systematic and pragmatic manner. The China government should take a multi-agency approach that deals with the challenge from a number of different angles.including, building solid infrastructure and a conducive environment that support innovation-driven IP-intensive activities, establishing education and training initiatives and also providing attractive incentives. In conclusion, in order to strengthen positions for commercialization in a globalized knowledge intensive world, China need to quickly address the challenges of facilitating IP and IP-based innovation.