The first patent insurance policy in the province was signed earlier this month in Handan city. The Handan subsidiary of the People's Insurance Company of China insured a package of five patents by local fertilizer maker Hebei Silicon Valley Co. If infringement on one of those patents happens during the insured period, the company can request compensation of up to 20,000 yuan ($3,260) from the PICC. The insurance company signed a cooperation protocol with the city's intellectual property office in April to establish such a mechanism.

(Source: China Daily)