China to levy heavier fines for trademark infringementSeptember 4th, 2012 - 1:37 pm ICT by IANS
Beijing, Sep 4 (IANS) China is expected to increase the ceiling of fines imposed on trademark infringement from half a million yuan ($78,800) to one million yuan, authorities said.
Zhang Jianhua, an official, said at a conference that legislators were planning to hand out heavier penalties in the latest revisions to China’s Trademark Law, reported Xinhua.
Repeated violations of the Trademark Law will face heavier punishment, Zhang said. He added trademark registrations will become more efficient under the latest amendment to the law.
China adopted its Trademark Law in August 1982. Two amendments to the law were adopted in 1993 and 2001.
China has the world’s largest number of registered trademarks, which totalled 7.17 million at the end of June, and valid trademark registrations, which totalled 6.09 million, according to official statistics.
China has had the world’s most trademark applications since 2002 when its trademark applications reached 300,000.
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Tags: amendments, authorities, beijing, china, half a million, legislators, official statistics, one million, registered trademarks, revisions, trademark applications, trademark infringement, trademark law, trademark registrations, valid trademark, xinhua, yuan