NPC Passes Law to Promote Commercialization of Technology

On August 29, the 12th National People's Congress (NPC) voted to amend the Law on Promoting the Commercialization of Science & Technological Achievements. This is the first amendment since the law became effective in 1996.  

The law aims to liberalize science and technology commercialization through market-driven mechanisms, highlighting the leading role of companies in realizing innovation-driven economic development.

The new amendment includes:

• Delegation of disposal rights of technological achievements to state research and development institutes and universities, including rights to transfer, license and invest, as well as rights to retain revenue
• Increase of remuneration of scientific research employees, raising the minimal percentage of awards by 20% of the profits to 50%

USITO solicited member feedback and submitted comments to the NPC on the second-reading draft in March 2015.