U.S. and Chinese officials agreed to a Technology Management Plan regarding intellectual property rights. The Agreement protects American and Chinese researchers, scientists, and engineers by ensuring their intellectual property rights for the technology they create.
In August 2011, the US and China consortia signed the Technology Management Plan that includes a groundbreaking Agreement for handling intellectual property.
Participants will enter traditional commercial contracts to set the terms and to allocate their rights to, and royalties from, any intellectual property that they create, subject to certain terms required by the respective governments.
Under certain circumstances inventors must negotiate licenses to ensure both countries benefit from their inventions. The inventing entity can set the terms of the license; for example, they can limit the use of the invention or receive royalties, but they are required to negotiate a license in good faith.
The plan also ensures that CERC participants in such negotiations will get a more favorable deal than those not involved in CERC. These license requirements ensure both countries benefit from all CERC innovations, the key goal for the CERC.