East China's Shanghai has taken the bold step of reforming its intellectual property or IP landscape with the release of a comprehensive plan to create a world-class business environment.

The document – called the Shanghai Intellectual Property Administration's Implementation Plan for Persisting in Benchmark Reform to Continuously Create an International First-Class Intellectual Property Business Environment – serves as a master blueprint for improving the city's entire IP system.

The plan aims to build a strong IP city and position Shanghai as a leader in global IP protection and as an international IP center. It is designed to improve the sense of gain of companies to be had from observing and honoring the precepts of IP and to strengthen their confidence and in the field.

Spanning seven critical areas, the plan outlines 22 key tasks to improve the entire spectrum of the IP system, from creation to services. It emphasizes the importance of marketization, legalization and internationalization in fostering a world-class business environment.

Highlights of the initiative include:

1. Legalization: The plan calls for the continuous optimization of the institutional supply side, in line with the needs of regional innovation and market units. This includes revising the management of IP special funds, formulating support policies for the IP services industry and exploring rules for IP registration of data.

2. Marketization: To improve service efficiency, Shanghai will build an integrated service network for rapid patent pre-examinations and IP financial services, involving key centers across the city. The initiative also aims to activate existing patents held by universities and research institutions, as well as leverage the IP financial services alliance to expand IP pledge financing.

3. Internationalization: Shanghai will increase its openness by supporting international functions such as the World Intellectual Property Organization's Arbitration and Mediation Center Shanghai Service. The plan also includes the establishment of an overseas IP dispute database and early warning platform, with the construction of overseas IP service stations to support the global expansion of Shanghai enterprises.

This strategic move is expected to significantly boost Shanghai's innovation ecosystem and provide robust IP protection, marking a milestone in the city's journey to become a global IP stronghold.