A system that can evaluate a patent and give a fair price to it has been designed successfully in Shanghai, and approved by experts.

The system, designed by the Shanghai intellectual property right service center and the Shanghai Lixin asset evaluation company, can store numerous data and patent cases and is equipped with special software for evaluation of patents.

In the past 10 years, about 300,000 patent applications have been submitted, but only a small number have been put to commercial use partly due to lack of reliable patent evaluation systems.

The system will accelerate the industrialization process of China's patent achievement, according to the State Intellectual Property Office.

(Xinhua News  Agency  May 4, 2004)