Smart Bureau expands accelerated review mechanism for new patents to save time and money and boost competitiveness

Smart Director Liao Chengwei (2nd from right) presided over the press conference on "Improving the Competitiveness of New Industries and Accelerating Patent Layout". (Photo by reporter Lin Jinghua)

[Reporter Lin Jinghua/Taipei Report] Help new industries build moats! The Intellectual Property Bureau of the Ministry of Economic Affairs announced today (16th) the expansion of the accelerated review mechanism for new patents, allowing companies to gain market protection opportunities, improve financing and market valuation, and expand international markets by obtaining patents faster. According to statistics from the Ministry of Economic Affairs, new companies can shorten the review time of patents by 6 times through the accelerated mechanism, and some fees are waived, which saves time and money for new entrepreneurs.

On the 16th, the Smart Bureau held a press conference on "Improving the Competitiveness of New Industries and Accelerating Patent Layout", explaining that industries can quickly transform technologies into patent assets and reduce the risk of infringement through projects such as the "Proactive Patent Examination Pilot Plan for New Industries", "Accelerated Examination Plan for Invention Patents (AEP)", "Patent Prosecution Highway (PPH)" and "Supporting the Utilization of Patent Prosecution Highway (TW-SUPA)".

The Smart Bureau stated that the government has formed a complete new innovation support system through policies such as the SBIR small business R&D plan, the proactive patent review of new industries, and the Asia Silicon Valley plan. The Smart Bureau explained that it will pilot the "Proactive Patent Examination Pilot Plan for New Innovation Industries" starting in 2025, and expand the applicable targets from 2025 to include "companies that have won national innovation awards within two years" and "companies entrusted by the Smart Bureau to be coached by the implementation unit in accordance with the government's science and technology program".

The biggest feature is that the examiners will "actively interview" and provide correction suggestions. Last year, there were 75 applications, and the average review period was only 65.8 days, which is 6 times shorter than the 13.8 months for the general invention preliminary review. The amount of investment received exceeded US$298 million (approximately NT$9 billion), demonstrating that "patent power means fundraising power." Smart Director Liao Chengwei explained that the relevant measures hope to give new entrepreneurs a fishing rod so that they will not make many mistakes on the road to entrepreneurship.

Secondly, the "Invention Patent Accelerated Examination Operation Plan (AEP)" applies to foreign counterparts that have been approved, commercial implementation is necessary, green technology and other reasons, and the review opinion can be obtained in about 2 months on average. As for the "Patent Prosecution Highway (PPH)" and "Supporting the Utilization of the Patent Prosecution Highway (TW-SUPA)", the Smart Office stated that it has cooperated with 8 countries including the United States, Japan, and South Korea, so that new innovations can quickly extend to major global markets after obtaining patents in Taiwan.

The Smart Bureau further proposed the "New Industry Accelerated Examination Plan" to provide all-round guidance from pre-search, intellectual property consultation to investment matching, and can directly connect to the proactive patent examination plan. Reduce application risks through free pre-search, allowing new companies to contact potential investors before obtaining a patent. The Smart Bureau will continue to serve as a promoter of new innovations, helping my country's technologies to quickly transform into global competitive advantages and seize opportunities in the international market.

Grasp the economic pulse with one hand. Click here to subscribe to Free Finance Youtube Channel