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What the Hong Kong Budget Means for Intellectual Property

Loeb Capital Markets & Corporate partner Lewis Ho is quoted in an article published by Asia IP discussing the 2022-2023 budget for Hong Kong and what HKD$170 billion in expenditure plans to improve the economy and retain public trust will mean for intellectual property. 

“The budget is intended to improve current IP regimes and thereby provide a more robust IP protection in Hong Kong,” Lewis said. 

Lewis added that the most influential plans would allow the Intellectual Property Department’s (IPD’s) implementation in Hong Kong to be “more comprehensive and in line with international standards.”

With the growing importance of IP for businesses and increasing popularity of cross-border and online businesses, Lewis believes that “businesses will benefit from the IPD’s initiatives no matter from IP, legal or commercials perspectives.” Having a robust IP regime may also attract investors to invest in technologies originating from Hong Kong or expand their own businesses in the city. 

Click here to read the article on Asia IP’s website.