In an effort to promote patent utilization and fund accommodation, safeguard the realization of obligatory rights and standardize registration of pledge of patent right, SIPO released the Measures for Registration of Pledge of Patent Right recently, which was formulated in accordance with the Patent Law and Property Law of the People's Republic of China and other relevant regulations. The Measures went into effective on October 1, 2010.

The measures clearly stipulates a series of rules of pledge. SIPO shall exam the registration applications within seven days, go through the registration procedure after the pledgors submit the documents certifying the pledgee's agreement on abandonment, transfer registration and licensing contract record of the pledge and delete the Article prescribes that units under ownership by the whole people shall be approved by the competent administrative authorities before pledging.

(China IP News)