In November, Beijing’s top lawmaking body issued the Beijing Regulations on Boosting the Commercialization of Technological Achievements, which were implemented from 1 January 2020.
Under the regulations:
- Companies that own “technological achievements” shall reward and remunerate their technical personnel who contribute significantly to the creation or transformation of technological achievements. As for the method, amount and time limit of the reward and remuneration, companies can adopt their own policy in accordance with the law, or reach an agreement with the technical personnel. If there is no company policy or agreement on such matters, companies should reward and remunerate technical personnel in accordance with the Law on Boosting the Commercialization of Technological Achievements, most recently amended in 2015.
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