There are three types of patents issued in China. I believe ACTC's falls under the Invention Patent category, which provides a TWENTY year protection period. How do you like them apples? SS
I appreciate the news and the potential significance, but let me provide a dose of balance to everyone here. Bear in mind that this is from a believer in science, I'm long in ACTC and I travel to China very often (about 8 times in the past 5 years) and spent a total of about 5 months there during that time. Check my previous few post...I am not a pumper nor basher. This is simply about the reality of doing business in China.
The reality re: a Chinese patent at this time is:
- IP/patent laws are still a relatively new concept in China
- It doesn't matter where a patent lawyer was trained if potential issues have to be tried in China
Granted, what ACTC is working with is way beyond knocking off iPads and mp3 players, but if any process or scientific data of worth is stored in China in support of the patent, you can be sure it'll be walking out with someone before long and in the hands of a competitor within months if not weeks.
The strength of a business in China depends heavily on the quality of your relationships there. This is ESPECIALLY true when one becomes involved in a trial. In China, in trial, laws are often arbitrarily applied, and very often are subject to political manipulation by the local players.
Only time will tell what the real value of a patent in China is. Having one is a nice milestone, and maybe just another small hint that the ACTC treatments do work, but in no way is a guarantee of anything.
Twenty years of exclusivity! The potential is stunning. SS
Enormous market potential for new drugs, diagnostics & other medical devices
With a fast annual economic growth rate of more than 10% for the past decade and no sign of slowing down in the foreseeable future, the Chinese economy will grow to the third largest in the would in the coming years, resulting in an increasingly wealthy consumer base of over 1.3 billion people and an enormous potential market for new drugs/therapeutics and diagnostic devices.
Love it. A twenty year patent is worth twice as much to us right off the bat. But even more as stem cell activity will pick up with each passing year meaning more bottom line dollars rolling into the coffers.