Shanghai has received 348 applications for intellectual property registration of data products since December, when the city began implementing a new set of pilot regulations aimed at recognizing and protecting IP rights associated with data-driven innovations, the Shanghai Intellectual Property Administration (SIPA) said on Monday.
Such data products span key industries, including artificial intelligence, biomedicine and financial services, according to the administration.
Xu Shang, head of the strategic planning division at SIPA, said that more than 130 data products have been listed on the Shanghai Data Exchange, with a total transaction volume surpassing 140 million yuan ($19.26 million). Additionally, more than 10 enterprises have secured bank loans exceeding 200 million yuan through pledged financing.
SIPA and the Shanghai Municipal Data Bureau previously issued the city's interim measures for IP registration and evidence preservation of data products, which became effective in December, highlighting the city's progress in protecting the IP rights of data products.
The concept of "IP of data products" refers to the rights held by individuals, legal entities or nonlegal entities on data resources that have been legally acquired and subsequently processed and innovated to create intellectual assets with commercial value. It usually includes their rights over data processing collections, data processing products and data technical algorithms.
Officials from SIPA said that as an emerging factor of production, data is becoming an important source of value creation, and the confirmation and registration of its ownership are important.
The pilot program in Shanghai has had a nationwide impact, reaching 16 provincial-level regions, with applications received from outside of Shanghai accounting for over 20 percent of the total, according to SIPA.
