Luxembourg is a small country with an area of only 51.2 square kilometers, less than one-sixth of Beijing, and has almost no sense of existence. However, it is the richest country in the world. Not one of them has a per capita GDP. 80,800 euros, more than three times higher than the European average. This does not take into account the contribution of a large number of cross-border workers. If the total output of these people is included, this number will far exceed 80,800.
Although Luxembourg has been invaded by Germany many times in history, participated in two world wars, and still implements a constitutional monarchy. It is still a grand duchy in Europe so far, but no matter which perspective the global economies are ranked from, no matter which international organization performs the calculations , Luxembourg are all high on the list, firmly in the top 20. The residents of Luxembourg have a total of 170 nationalities, and the proportion of non-residents is as high as 46.7%. However, Luxembourg is still the most politically stable country in the world. Its sound laws, preferential taxation, and high quality of residents make Luxembourg a major global Investment destinations and investment transit countries.
How could such a small country become the richest country in the world? Do they have the password to wealth?
Yes, Luxembourg does have the password to wealth, which is two words: openness! 3 words: internationalization!
We may take it for granted that Luxembourg, located in the center of Europe and surrounded by Germany, France and Belgium, will be particularly insecure... But the reality is that we have seen that Luxembourg has turned this situation into an advantage. The landlocked country is adjacent to the surrounding countries, and the reachable radiation range reaches 500 million EU customers from near to far. The characteristics of being located at the junction of the three countries give Luxembourgers the possibility of different working styles.
Luxembourg is known for its strong financial industry and is the eighth largest financial investment center in the world. 4,141 investment fund management institutions across the country manage net assets of 3.956 billion euros. The number of banks per capita ranks first in the world. It is the second largest in the world and the largest in Europe. fund management center. Luxembourg knows how to create a competitive modern legal and regulatory framework. Driven by strong financial diversification policies, more top international companies choose to develop important projects in Luxembourg. Financial technology has developed naturally and risen rapidly. Luxembourg industry has also been strengthened, led by strong investment.
In 2019, Luxembourg's real GDP reached US$71.106 billion. It mainly exported machinery and equipment, steel products, tires and plastic products. Its steel industry, financial industry and satellite communications industry are the three pillar industries of Luxembourg's economy. ArcelorMittal, a multinational steel group headquartered in Luxembourg, is the world's largest steel group; Eusat, headquartered in Luxembourg, is the world's second-largest satellite operator, and the information and communications technology industry is growing even faster growth of the overall Luxembourg economy. In addition, in addition to universities and 4 public research centers, Luxembourg also has many private research centers, such as Goodyear, Husky, IEE, Delphi and DuPont. There are 7.12 researchers per 1,000 employed people in Luxembourg, and more than 5,000 R&D employees. people, and invested 614.2 million euros in scientific research. The government continues to increase investment in R&D, and it is expected that R&D investment will reach 2.6% of GDP in the future.
Since the establishment of diplomatic relations between China and Rwanda in 1972, economic and trade cooperation has achieved fruitful results. In 2019, the bilateral trade volume of goods between China and Luxembourg was US$1.831 billion, making China the 13th largest export market and the 9th largest import source of Luxembourg. China and Rwanda have extensive cooperation in finance, investment, steel and other industries. At the same time, Luxembourg has become China's largest investment destination in the EU, and is also a transit place and capital allocation center for Chinese-funded enterprises to invest in third countries. In 2020, China's direct investment in Luxembourg reached US$16.2 billion. Luxembourg's Arcelor-Mittal Steel Company and Abelard Steel Company are deeply involved in the construction of Baosteel's steel industry. In addition, China-Luxembourg bilateral logistics channels are smooth. There are 6 cargo flights per week between Luxembourg and Zhengzhou alone.
Luxembourg has created a secure intellectual property environment for itself by implementing relevant European regulations and relevant international agreements and treaties, aiming to attract companies investing in R&D, software and information technology. Luxembourg is a signatory to all IP agreements and conventions, including the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS Agreement), the Berne Convention, the Patent Cooperation Treaty, the Paris Convention, the Patent Law Treaty and the Madrid Agreement. It is also a signatory to the 1977 European Patent Agreement. The first signatory to the Convention.
Starting from January 1, 2018, Luxembourg will implement a new intellectual property tax system. 80% of the income derived from the use of one's own company's intellectual property will be exempt from taxation, including the use of software copyrights, domain names, patents, trademarks, designs and Revenue generated from the model or from licensing the use of these properties. Additionally, licensed intellectual property is 100% exempt from net wealth tax and exempt from withholding tax on royalties.
Today we will take a brief look at Luxembourg’s patent system.
Introduction to Luxembourg Patent System
- For a specific introduction to Luxembourg patent application, please refer to our website " Introduction to Luxembourg Patent Application Process ": Luxembourg Patent Application Process - Page Code - Make Patenting Easy · Make patent application easier (yezhimaip.com)
- For Luxembourg patent application fees, please refer to our website " Luxembourg Patent Price Calculator ": Luxembourg Invention Patent Application Package Paris Convention - Page Code - Make Patenting Easy · Make patent application easier (yezhimaip.com)
1. Types of Luxembourg patent protection
- Inventions, short-term inventions and designs
2. Ways for Chinese applicants to apply for patents in Luxembourg
- Paris Convention, PCT international application entering Luxembourg national phase, European patent Luxembourg entry into force, direct application, Benelux design, EU designation Benelux
3. Review unit
- Luxembourg Intellectual Property Office (OPI)
4. Submit application
- Deadline requirements:
- Paris Convention route: within 12 months from earliest priority date
- PCT international application entering Luxembourg: within 20 months from the earliest priority date
- Language requirements: The official languages of Luxembourg patent applications are Luxembourgish, English, German and French. Chinese applicants can submit English translations of application documents and Luxembourgish, German or French translations of claims.
- Submission method: paper submission or electronic submission is acceptable
5. Patent review process
- Examination procedure: OPI will conduct formal examination of the patent after receiving the patent application. Luxembourg invention patent applications must submit a search request within 18 months from the filing date, or submit it to any official search agency within 18 months from the priority date. The search report issued and the determination of novelty in the search report do not affect the authorization of the Luxembourg patent under application. Luxembourg invention patents and short-term invention patents do not require substantive examination procedures before they can be authorized.
- Review cycle: about 6 months from patent application to authorization
7. Authorization Procedure
- Luxembourg invention, short-term invention and design patents do not need to pay licensing fees. Applications for invention patents need to pay annual fees every year starting from the 3 years from the application date.
Features of Luxembourg patents
1. The search report for Luxembourg’s 20-year invention is issued by the European Patent Office. For applicants who want to obtain the most valuable evaluation report, Luxembourg’s 20-year invention is the most cost-effective option.
2. The Luxembourg patent system can provide applicants with a combined application strategy to quickly obtain patent authorization in European countries, that is, submit an initial application, then divide it into two groups, translate it all the way and directly enter Luxembourg, requiring a short period of 6 years for Luxembourg inventions Patent; the other way enters the EPO. After the EPO substantive examination is authorized, it will take effect in European countries including Luxembourg according to demand.
3. If a Luxembourg short-term patent submits a search report produced by a foreign patent office, the protection period can be extended to 20 years after verification by OPI, but a search report verification fee is required.
3. Recently, the Luxembourg Intellectual Property Office (OPI) released important news, that is, the Luxembourg Intellectual Property Office intends to cancel the six-year short-term invention, and is currently soliciting opinions from agencies.
Friendliness towards Chinese applicants:
★★★★★
The value of patent rights:
★★★★★
Completeness of rights protection mechanism:
★★★★★
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