Chinese online intellectual property trading and service marketplace WTOIP announced in March that it has forged a cooperative relationship with its US counterpart AutoHarvest Foundation to promote IP-related exchanges and communications among companies, investors, engineers and scientists in both countries.

The two organizations started discussing collaboration in December, and have now agreed to rely on their respective advantages in industries, location, capital and human resources to provide comprehensive solutions of turning innovation technology into commercial success, WTOIP reported.

WTOIP aims to provide a large amount of partners, patents, brands and global marketing channels to global IP developers and product innovators through both online and offline networks. It now has more than 600,000 patents and 500,000 trademarks for sale, as well as 110,000 Chinese and foreign members.

It has granted AutoHarvest access to its online and offline user communities, showing its members' product innovations and manufacturing technical solutions to its US partner to find cooperation intentions, as well as providing professional reports highlighting important opportunities in Chinese markets.

For its part, WTOIP will join in AutoHarvest's Innovation Ecosystem.

"We will align well with the AutoHarvest Innovation Ecosystem to bring good opportunities to both members and enterprises by utilizing IP" Xie Xuhui, CEO of WTOIP, told The Detroit News.

Detroit-based AutoHarvest created and operates a unique innovation ecosystem led by some of the most highly respected figures in the automotive and manufacturing industries, including aerospace, defense, IT, transportation and telecommunications sectors.

The nonprofit organization serves as a neutral meeting place for corporations, engineers, scientists, investors and entrepreneurs to transfer intellectual property for new uses.

"AutoHarvest is delighted that WTOIP has become an active partner to do the noble work of building a trusted bridge and superhighway to China for entrepreneurs, SMEs and innovation organizations in automotive and advanced manufacturing," said cofounder of AutoHarvest, Jayson Pankin, The Detroit News reported.

As China emerges as a new source of innovation, many major Western companies are building lucrative businesses in the country.

"I want to help the little guys get that boost. Nine thousand miles and the language barrier - they can't afford an army of people on the ground to figure it out," Pankin told Forbes.

By pooling resources on intellectual property, Pankin said, the two organizations can help connect a company with a new welding technique in Iowa, for instance, with an appliance manufacturer in China. "Our goal is to get people together to help each other," he said.

"I hope that bringing the invention engine of the United States stoked by thousands of small companies to the attention of capable Chinese partners, especially SME groups, will generate impact," Pankin told IAM magazine.

WTOIP and AutoHarvest will participate in the ITTN Technology Transfer Conference in Beijing in April and jointly hold an international IP forum titled "2015 International IP Monetization and Commercialization Forum" in Los Angeles on May 8.

(Source: China Daily)