Far Eastern New Century Corporation (hereinafter referred to as “FENC”) has formulated the "Intellectual Property Management Policy” to protect the results of FENC’s innovation, research and development, to strengthen FENC’s long-term competitiveness and to effectively manage FENC’s intellectual property rights. The aforesaid policy has been approved by FENC’s Board of Directors on November 12, 2020, and it contains the evaluation, application, management and protection of all patents, trade secrets, trademarks and copyrights. FENC has reported FENC’s intellectual property management and operations in 2021 to FENC’s Board of Directors on November 11, 2021 as follows:
- Achievements of intellectual property management
- In order to protect FENC’s intellectual property rights and proprietary information, FENC has implemented the following measures: (i) requiring new employees and R&D staff to sign declarations regarding FENC’s confidentiality and ownership of intellectual property rights protection; (ii) entering into non-disclosure agreements with external parties and partners for the protection of FENC’s technology and proprietary information; and (iii) entering into confidentiality agreements before any mergers and acquisitions. FENC has continuously conducted employee trainings in 2021 to improve employees’ awareness of intellectual property rights protection.
- FENC has partnered and collaborated with world renowned companies to co-develop the technology of FENC®TOPGREEN®Bio3-PET Carbon Capture Fiber.
- FENC has developed the application in high value-added nylon 6,6 industrial yarn which includes airbags, tire cords, seatbelts and other automotive materials of electric vehicles.
- In order to strengthen FENC’s intellectual property rights and management and to maintain FENC’s long-term competitiveness, FENC’s priorities since the fourth quarter of 2021 are as follow
- In response to the development and strategic plan and roadmap of FENC’s intellectual property, FENC continues to review and revise for more vigorous declarations and agreements to protect FENC’s ownership of intellectual property rights and confidentiality with employees, with such declarations and agreements in various languages (including Chinese and English versions).
- In order to manage the risk and be well aware of the protection of FENC’s intellectual property, FENC continues to establish Standard Operating Procedures for managing any intellectual property rights infringement or disputes, including the procedure to process demand letters and the establishment of task force.
- FENC conducts the new employee trainings for all new employees and hosts regularly on-the-job trainings with current employees utilizing external resources on intellectual property rights protection, relevant contract terms and up-to-date legal knowledge to improve employees’ awareness of intellectual property rights protection.