In the News: New Patent Regulations, New Futures Product, and Improved Judicial Transparency
November 19, 2018 | BY
Jacelyn JohnsonAmended regulations for patent agents will take effect in March 2019; trading of ethanediol futures on the Dalian Exchange starts in December; and the Supreme Court is updating China's online court documents depository.
China Amends Regulations for Patent Agencies
The State Council on November 19 released amended regulations for patent agencies, calling for patent agents to follow the principles of goodwill, fairness, faithfulness and credibility in carrying out their services, reported Xinhua.
The amendments which will come into effect on March 1, 2019 will implement stricter qualification requirements for patent practitioners and enforce supervision on services of patent agencies.
According to the new regulations, individuals with requisite educational backgrounds will have to pass a qualification test, and will be certified as patent agents. Organizations will have to apply for practice licenses before offering patent agency services. The regulations also detailed specific codes of conduct and legal obligations for patent agents.
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Securities Regulator Approves Ethanediol Futures Trading
The China Securities Regulatory Commission (CSRC) has approved the trading of ethanediol futures on the Dalian Commodity Exchange, reported Xinhua. China is the world's largest consumer of ethanediol, which is a raw chemical material used in the manufacturing of fiber products.
According to Chang Depeng, a spokesperson for the CSRC, recent price fluctuations of ethanediol have had a large impact on related manufacturing industries, and the futures trading could help promote a healthy and structural development of the industry.
Trading ethanediol futures is scheduled to launch on December 10.
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China Aims for Improved Judicial Transparency with Online Legal Depository
In an effort to increase transparency and promote a fair judicial mechanism, the Supreme People's Court will update its legal documents depository, China Judgment Online, a government website where the public can access judgments and documents released by Chinese courts.
The website contained over 55 million documents and reached 20 billion hits as of November 13. Although launched in 2013, the Supreme Court noted that the website is only now gaining more and more traction given the implementation of regulations and increased use of information technology.
The Supreme Court will improve the website by updating the upload system. This measure is part of the efforts to improve China's business environment and offer judicial support and a guarantee of reform and opening up.
The website offers materials and references to adjudication, legal research and guidance on solving legal disputes in relation to judicial reform, legal practice, litigation, as well as enforcement and case handling.
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