Total Credit &
Risk Management Group (GCS Hong Kong) - Newsletter Thursday, September 19, 2013 | ||
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Message 1
Launch and Roll-out of the Total Unlimited Access System (TUAS) for SME's Last month saw the launch and roll-out of Total Unlimited Access System (TUAS) packages aimed squarely at SME¡¦s with a Basic and Silver Plan, which will be marketed in conjunction with our existing Gold and Diamond Plans. In particular, all plans now incorporate instant access to our extensive company profile data, court and debt records as well as electronic monitoring for individuals and companies. The Total Unlimited Access System (TUAS) was originally launched in 2011 as a secure and easy-to-use web-based solution for large corporates to view online business and credit information with instant access 24/7. The TUAS allows instant access to over 4.5 million existing individual and corporate records, Greater China and Asia company credit reports and more¡K With the TUAS, you'll now be able to accurately assess the creditworthiness of your customer¡¦s portfolio, identify new business prospects as well as assess the financial and business strengths of your competitors. Price starts from HK$6,888 (for a 12-month subscription) For more information, please contact our Business Development Team on: Email: inquiry@totalcredit.hk
Total Credit & Risk Management Group (GCS Hong
Kong) Total Credit & Risk Management Group provides the full range of services, from global real-time business & credit information, receivable management services to background investigations, due diligence and pre-employment screening. Our clients include government departments, banks, export insurers, finance-lenders, credit card companies, legal firms, accounting practices, distributors, importers and exporters, consulates and foreign trade commissions. Message 2 The World Association of Detectives, Inc. (WAD) 88th Annual Conference - Rome, Italy The WAD¡¦s 88th Annual Conference was held this year in Rome, Italy between 26 - 31 August 2013 at the Rome Cavalieri Hotel. This conference is one of two events hosted by the WAD annually - the other event is a mid-term meeting. This conference continued its international platform with representation of WAD members from around the world, sharing thoughts, developments, knowledge and successes, while strengthening relationships with industry players to promote international business. Coupled with a distinguished panel of speakers presenting their expertise, perspective and experience, Rome 2013 was a great meeting. The luxurious and conveniently located 5-star Rome Cavalieri Hotel was chosen as the conference venue and is the first Hotel in Europe to be part of the exclusive Waldorf Astoria Hotels & Resorts. The Rome Cavalieri is the pre-eminent luxury Hotel in Rome, with an art collection that outshines many museums, a Grand Spa that would be the envy of a prestige health resort, and standards of luxury that set it apart from other Rome hotels. The Rome Cavalieri has the tranquility of an oasis. Enclosed in fifteen acres of lush Mediterranean parklands, this luxury Hotel is a calm retreat in the heart of the Eternal City, an elegant refuge where time slows and hearts quicken. Message 3 Global Credit Solutions (GCS) 2013 Annual World Conference ¡V Chicago, IL, USA GCS will hold its annual world conference next month on 14 ¡V 16 October 2013, in Chicago, USA. The elegant, luxurious and conveniently located 5-star Courtyard by Marriott Chicago Magnificent Mile Hotel has been chosen as the conference venue hotel. The conference will cover topics such as the new Global Compliance Requirements Program (GCRP), Sales Strategy, Corporate Marketing, as well as Regional Reviews. During the 3 days, the conference will kick-off with a Cocktail Reception, followed by a Group Dinner and finally a Finale Dinner and Awards Night, which is scheduled to be complete with drinks and surprises. Delegates have been assured that they will be visiting some of the historic landmarks such as the Willis Tower (formerly Sears Tower, and the tallest building in the Western Hemisphere), Chicago Board of Trade Building, Garfield Park Conservatory (one of the largest collections of tropical plants in any US city), as well as the Chicago Symphony Orchestra, recognized as one of the best orchestras in the world! Representing Total Credit at this year's conference will be Benedict Wong, our President & CEO, and Peter Wong, our Associate Director - Business Development & Compliance and current GCS Regional Director - Asia. ACA International Profile Founded in 1939, ACA brings together more than 5,000 members worldwide, including third-party collection agencies, asset-buyers, attorneys, creditors and vendor affiliates. The association establishes ethical standards; produces a wide variety of products, services and publications; and articulates the value of the credit and collection industry to businesses, policymakers and consumers. NALI Profile NALI¡¦s primary focus is to educate and advance the art and science of legal investigation, and to ensure the highest standard of professional ethics. This common bond establishes mutual trust, goodwill and friendship among their members, which currently exceeds 500 professional legal investigators located throughout the USA and other countries. IMA Profile WAD Profile GCS Profile GCS provides offices on the ground - Collecting and litigating overseas can present many problems. A multiplicity of regulations in each of the hundred or more jurisdictions around the world mean it is impossible to manage risk efficiently and expertly from a single location - there is no substitute for local knowledge. GCS provides expertise in the legal system, rules of enforcement, customs and practices which eliminate risk and create a level playing field upon which to trade. Today, GCS is recognized by the International business community as experts in the fields of credit management, debt collection, credit reporting and risk management services. Asiagate Profile In the industry, we are founding members of: And members of: Our expertise, know-how, network, advanced technology support and 25 years + comprehensive databases distinguish us in the market. Go Top | ||
News Highlights | ||
In the second quarter of 2013, 31% of Hong
Kong's total exports to the mainland of China (the Mainland) were for outward
processing. The proportion was 17% for domestic exports and 32% for re-exports.
On the other hand, 37% of Hong Kong's imports from the Mainland we
>>>>>[Read
more] The total gross value of construction works
performed by main contractors in the second quarter of 2013 increased by 12.3%
in nominal terms over a year earlier to $42.2 billion, according to the
provisional results of the Quarterly Survey of Construction Output relea
>>>>>[Read
more] Business receipts in value terms of almost all
the major service industries showed increases of different magnitudes in the
second quarter of 2013 when compared with the second quarter of 2012, according
to the provisional figures of business receipts indices release
>>>>>[Read
more] The Census and Statistics Department (C&SD)
released today (August 27) the external merchandise trade statistics for July
2013. In July 2013, the values of Hong Kong's total exports and imports of goods
both showed year-on-year increases, at 10.6% and 8.3% respec
>>>>>[Read
more] The Census and Statistics Department (C&SD)
released today (August 20) the Consumer Price Index (CPI) figures for July
2013. According to the Composite CPI, overall consumer prices rose by
6.9% in July 2013 over the same month a year earlier, larger th
>>>>>[Read
more] According to the latest labour force statistics
(provisional figures for May - July 2013) released today (August 19) by the
Census and Statistics Department, the seasonally adjusted unemployment rate
stood at 3.3% in May - July 2013, same as that in April - June 2013
>>>>>[Read
more] The following is issued on behalf of the Hong Kong Monetary
Authority: | ||
Article | ||
IP Focus:
Sophisticated counterfeiters and stronger enforcement
Chinese and foreign companies need to employ anti-counterfeiting strategies as actions against companies with registered intellectual property can be difficult Issue: July/August 2013 Contrary to what many people believe, the open manufacture and sale of counterfeit products is becoming uncommon in China. However, the losses caused to both foreign and Chinese companies from sophisticated counterfeiting operations and infringement increases every year. Strategic development of intellectual property rights and active enforcement will reduce the risks from these counterfeiters, infringers and growing competitors. Every year, many Chinese companies maliciously register intellectual property and take advantage of the reputation of other companies to frequently sell sub-quality products. Increased investment in prosecution and enforcement provides long-term benefits in protecting the reputation of brands and supports current operations and future expansion in the growing Chinese market. If a suspected counterfeiter or infringer is found and not investigated and challenged, there is a very real risk that its business could grow larger and larger, making it increasingly difficult to challenge its use in the future. Chinese government agencies and courts have recently become more active in enforcing intellectual property rights, especially in eastern China. When companies file complaints and do enforcement work, government agencies are also more likely to pay attention to their trademarks. In recent months, our firm has regularly been contacted by local Administration of Industry & Commerce (AIC) officials and the Public Security Bureau requesting verification that seized goods were counterfeit after they had conducted raids. Previously, raid actions prior to the filing of formal complaints were less common. Unfortunately, but understandably, the government is also enforcing and recognising rights secured by savvy counterfeiters. Chinese companies and individuals have applied for and registered millions of trademarks, patents and domain names. Many of the intellectual property rights secured are similar to, or identical with, those developed by known companies, their competitors or even their business partners. The former counterfeiters then become the legal rights owners and cancelling their marks and invalidating their patents is often challenging. Anti-counterfeiting actions against these companies with registered trademarks and other intellectual property becomes more difficult, although we are also increasingly seeing favourable judgments in these challenging cases as well. In this article, we describe how to outmanoeuvre these sophisticated Chinese counterfeiters. We begin by providing an overview of the active enforcement occurring and prosecution issues in China. Then, we discuss the need for intellectual property audits and an aggressive prosecution strategy for trademarks, copyrights, design, utility model and invention patents, and domain names. Finally, we describe how to effectively perform anti-counterfeiting work through cease and desist letters, administrative raid actions and penalty decisions, civil litigation and criminal prosecution, and customs protection. We have handled a number of matters where our clients have had their goods detained at China Customs because someone else registered their intellectual property in China and recorded it at customs. And, Chinese companies have also registered companies and secured trademarks in foreign jurisdictions in order to claim that their shipments containing counterfeit products are original equipment manufacturing (OEM). Stopping these sophisticated counterfeiters is possible, but careful planning and initial investments are often required. Enforcement and Prosecution However, the number of registered trademarks and patents makes prosecution and enforcement work more challenging. In 2012, 1.6 million trademark applications were filed in China, an annual increase of over 15%. For 11 years now, China has had the largest number of applications in the world. The number of oppositions is also large and increasing, and 73,000 trademark opposition cases were decided last year, an increase of nearly 30% from 2011. By the end of 2012, 4,486 trademarks had been recognised as well known through administrative proceedings including oppositions. In 2012, the State Intellectual Property Office (SIPO) received a total of over two million patent applications, including 650,000 invention patent applications, 740,000 Utility Model applications and 657,000 design patent applications. Domain names are also often registered by so-called cyber squatters and may be used to sell counterfeit goods. By the end of 2012, China had 7.5 million .CN domain names, an increase of over 112 percent from 2011. In addition, the number of . ¤¤国 Chinese domain names reached 280,000. Registering key domain names for defensive purposes is significantly more cost-effective than reclaiming a domain name through the Asian Domain Name Dispute Resolution Centre or civil litigation. Hermès and trademark markets In a widely publicized decision in August 2012, Heyuan Intermediate People¡¦s Court in Guangdong Province sentenced Xiao Zhenjiang to life in prison. According to a statement on the Court website, Xiao was found with RMB 100 million yuan worth of fake Hermès products. Three of his accomplices were also sentenced to seven to ten years in prison and were handed fines of RMB 500,000 to RMB 800,000. Although in April 2013, the sentence for Xiao was reduced to six years the case still has had a strong deterrent effect. Trademark violations under PRC Criminal Law provide for criminal sentences up to seven years, but Heyuan Court had issued a life sentence for the manufacture and sale of substandard products. Xiao and his gang were well organized, but they did not have a registered trademark. However, they could easily have bought one. Currently, one of China¡¦s many online marketplaces to purchase trademarks, Famous Trademark Assignment Net, features the trademark H FRG EMMAS. Although there are several different English letters in this registered trademark than the real trademark, the website prominently features the mark together with a variation of the distinctive Hermès carriage along with a variation of the common Chinese name for Hermès. Unfortunately, for the French Hermès, they were not successful in registering their Chinese version mark in China. The price for H FRG EMMAS is negotiable, but similar imitation marks have sold for hundreds of thousands of dollars. Hermès should probably file a cancellation in dispute against this mark, but even with the clear bad faith such an action will be more challenging than opposing the mark initially ¡V which was not done. Opposing and preventing the registration of similar marks is a key component of anti-counterfeiting. Even third-party registrations of a foreign company¡¦s house mark ¡V and the Chinese versions ¡V are still common. For these types of marks, requests for millions of Renminbi for registrant of a company¡¦s own trademark are not unusual. Nearly everyone in China knows that Proview Electronics managed to obtain $60 million from Apple for the iPad trademark that Apple thought it had already purchased. Although not a counterfeiter, Proview Electronics¡¦ iPad trademark and the surrounding media coverage increased awareness of the value of selling trademarks. IP audits and prosecution Audit work forms the foundation of a company¡¦s intelligence on whether their rights have been sufficiently protected and whether there are similar or identical marks against which actions need to be taken. The audit work will also help companies to determine how to strategically proceed with necessary action, both now and in the future. Key issues for trademark prosecution include Chinese version marks and the sub-class principle. Many companies are still unaware of the threat posed by the Chinese equivalents of their trademarks and unfortunately there are often many characters with similar pronunciation and appearance. These Chinese equivalent marks are better recognized and more familiar to consumers in the Chinese market. Therefore, it is strongly recommended to figure out and register Chinese equivalent marks as soon as possible. Also, in China each international trademark class is further classified into many Chinese local subclasses and the registration of a trademark in one subclass cannot prevent others from registering under similar trademarks in other subclasses. It is also important to consider the potential for design patents, as well as potentially utility model and invention patents. Domain name registrations are also another area that needs to be carefully considered. Anti-Counterfeiting strategy and customs Based on our experience, usually we can prevent the significant majority of infringing acts by means of investigation, notarized purchase, administrative or police action and follow-up checks. Moreover these actions would also continue to produce a deterrent effect in the key markets. China customs is also effective at stopping the export of counterfeit and infringing goods. Because some courts believe that OEM should be defined as unauthorized use of a trademark in China, the court may find use of an unregistered trademark in your OEM in China infringes upon the trademark right of the Chinese registrant of the trademark (copycat). Chinese companies have also registered companies and secured trademarks in foreign jurisdictions in order to claim that their shipments containing counterfeit products are OEM. Chinese counterfeiters understand and know how to navigate China¡¦s intellectual property law ¡V and the serious risks of counterfeiting. We have used the term counterfeiters expansively to refer to any company or individual that takes an advantage based on the reputation of another company through copying or imitating its intellectual property. This expansive definition of counterfeiters represents the reality on the ground. In many cases, we have found companies in China manufacturing some products using their own mark, or a registered or unregistered variation of another company¡¦s marks and then secretly producing entirely counterfeit products as well. Previously, much of our work dealt with helping clients register and enforce their trademarks against Chinese companies that were copying and selling our client¡¦s products using our client¡¦s trademarks. Now we are seeing more and more of these same companies applying for similar trademarks and copying our client¡¦s products while applying and protecting themselves with design, utility model and invention patents of their own. These companies then often use shell companies or related companies to register domains and use online sales via third-party websites to sell goods across China and around the world. Effectively stopping these increasingly sophisticated counterfeiters requires strategic development of intellectual property rights and active enforcement. Spring Chang and Steven Andrews, Chang Tsi & Partners, Beijing © Euromoney Institutional Investor (Jersey) Ltd 2013. All material subject to strictly enforced copyright laws. Go Top | ||
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