280. The paper before us today provides an overview of possible licensing across a range of IP assets, including patents, copyright, trademarks, and know-how. Licensing is one of the most dynamic forms of IP trading which enables more flexible and diversified use of IP rights, thereby unleashing fully their economic value. The creativity of international licensing agents and licensees can often turn a popular cartoon figure or a trendy graphic into a wide range of merchandise products ranging from clothing, stationeries, houseware to games.
281. As one of the co-sponsors of the paper, I would like to briefly share the IP licensing landscape in Hong Kong, China. Hong Kong, China positions itself as a regional IP trading centre. We have a sound legal system, sophisticated financial markets, world-class professional services, close ties with the Mainland of China, as well as rich experience and expertise in working with the rest of the world. We also provide robust protection for IP rights. According to the 2019 Global Competitiveness Report released by the World Economic Forum, Hong Kong, China was ranked 5th out of 141 economies in terms of IP protection.
282. The relevant authorities in Hong Kong, China have been implementing a wide range of measures to promote IP commercialisation and IP trading. Such measures include:
a. Organising large-scale IP forums and licensing conferences, such as the Business of Intellectual Property Asia Forum to promote Hong Kong, China's competitive advantages in IP trading, as well as the Hong Kong, China International Licensing Show, and the Asian Licensing Conference to assist licensors and licensing agents to search for partners (i.e., match making) and look for business opportunities;
b. Supporting small and medium-sized enterprises, the backbone of the Hong Kong, China economy, by providing IP training programmes and free IP consultation service, assisting them in building up their IP manpower capacity and boost competitiveness through IP management and commercialisation;
c. Promoting the resolution of IP disputes through arbitration and mediation, as part of the wider effort to develop Hong Kong, China as an international legal and dispute resolution services centre. Among other things, amendments were made to the local laws to clarify that disputes over IP rights may be resolved by arbitration;
283. Looking ahead, the IP licensing landscape in Hong Kong, China will continue to thrive and evolve. We will continue to strengthen Hong Kong, China's role as a regional IP trading centre. We look forward to hearing from other Members their experiences in the field of opportunities in IP licensing.