Japan is Stepping up to Protect its IP Agaist S. Korean and Cinese Rivals
According to Nikkei News in Japan, the Innovation Network Corporation of Japan (INCJ) is stepping up to buy patents. The fund was established by INCJ, Panasonic Corp.; and Mitsui & Co. It is the first set up specifically to protect domestic intellectual property. The initial fund level is known to be about 3 billion yen for acquiring unused patents form Japanese companies for resale to other countries. The goal is to protect Japanese companies against South Korean and Chinese rivals. According to JPO, around 47% of 1.35 million patents owned by Japanese companies were not exploited economically in 2012. This is similar to Intellectual Discovery fund of S. Korea or France Brevets fund. The fund started full-scale operation on Thursday.