The 10th Trilateral Russian-Chinese-Mongolian Intellectual Property (IP) Seminar, held on 14 October 2022, focused on IP Evaluation: Experience and Regulatory Practice Sharing.

Head of Rospatent Mr. Yury Zubov, Director General of the IP Office of Mongolia Mr. Elbagsaikhan Ganbat, Commissioner of the China National IP Administration Dr. Shen Changyu, and President of the Eurasian IP Office (EAPO) Mr. Grigory Ivliev welcomed the participants. Heads of the offices emphasized the importance of IP evaluation for the introduction of innovative ideas into the market and countries’ economic growth.

According to Mr. Zubov, such meetings create new opportunities for mutually beneficial partnerships.

“We will exchange regulatory practices and discuss issues related to cooperation between the offices. Russia has recently formed a comprehensive legislative framework for IP market development. We have accumulated extensive experience in the commercialization of scientific research and implementation of interesting business projects involving academia and universities. Innovations and advanced technologies are increasingly being introduced into all economic sectors. There are many examples of how a scientific idea shortly transforms into a successful market product and scientific achievements make people’s life more comfortable, interesting and safer” – said the Head of Rospatent.

As an example of such a product, Mr. Zubov used the Sputnik V COVID-19 vaccine. According to the Head of Rospatent, Russian scientists continue to develop reliable vaccines preventing severe infections. Recently, researchers of the State Research Center of Virology and Biotechnology VECTOR have registered a patent for the only one locally developed vaccine for the prevention of monkeypox.

Participants of the trilateral seminar exchanged information related to the regulatory framework of IP evaluation and discussed the evaluation practices of their countries. Ms. Elena Shuvalova, Partner, Corporate Finance Department, the ALTHAUS company, talked about the relevant Russian practices.

Mr. Zubov shared information on the recent accomplishments of Rospatent, in particular, the new mechanisms to assist and support Russian innovators, e.g., the creation of the Center for the Promotion of Advanced Technologies and the Evaluation Center, as well as the coming development of the Federal Evaluation Standard involving the Russian Ministry of Economic Development.

“Transparent evaluation system is an opportunity to attract venture capital and develop a tool for IP-backed financing available to technology companies”, – noted Mr. Zubov.