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Sinopec sued for intellectual property rights infringement by Ineos Sinopec sued for intellectual property rights infringement by Ineos
(3 days later)
China Petroleum & Chemical Corp (Sinopec), Asia's largest oil refiner, has denied violating the intellectual property rights of Ineos, after the Swiss-based chemicals company brought a case at a Beijing court.China Petroleum & Chemical Corp (Sinopec), Asia's largest oil refiner, has denied violating the intellectual property rights of Ineos, after the Swiss-based chemicals company brought a case at a Beijing court.
The Shanghai Research Institute of Petrochemical Technology, which is a subsidiary of Sinopec, is being sued over technology related to the industrial chemical acrylonitrile, state-owned Sinopec said in a statement on Friday.The Shanghai Research Institute of Petrochemical Technology, which is a subsidiary of Sinopec, is being sued over technology related to the industrial chemical acrylonitrile, state-owned Sinopec said in a statement on Friday.
The subsidiary developed what has become a core technology "after 50 years of research," the company said.The subsidiary developed what has become a core technology "after 50 years of research," the company said.
"Sinopec has full proprietary intellectual property rights over such technology. There is no ground for the infringement alleged by Ineos," Sinopec said."Sinopec has full proprietary intellectual property rights over such technology. There is no ground for the infringement alleged by Ineos," Sinopec said.
China has long been a flashpoint for disputes over intellectual property rights. Last year a private reserach organisation called the commission on the theft of American intellectual property said 80% of global intellectual property rights abuse occurred in China. China has long been a flashpoint for disputes over intellectual property rights. Last year a private research organisation called the commission on the theft of American intellectual property said 80% of global intellectual property rights abuse occurred in China.
The US and other foreign governments have urged China to take a stronger stand on the matter, which affects products ranging from medicine to software to films.The US and other foreign governments have urged China to take a stronger stand on the matter, which affects products ranging from medicine to software to films.
Sinopec's case, which was lodged 17 March, was reported on Friday by the Financial Times. The newspaper said INEOS was also pursuing the complaint through an arbitration process in Sweden under terms to resolve disputes previously agreed with Sinopec.Sinopec's case, which was lodged 17 March, was reported on Friday by the Financial Times. The newspaper said INEOS was also pursuing the complaint through an arbitration process in Sweden under terms to resolve disputes previously agreed with Sinopec.
Last month a subsidiary of Sinopec, Sinopec Yangzi Petrochemical Company, agreed to form a $500 million (£303m) 50/50 joint venture with Ineos in Nanjing, China, to make the industrial chemicals phenol and cumene.Last month a subsidiary of Sinopec, Sinopec Yangzi Petrochemical Company, agreed to form a $500 million (£303m) 50/50 joint venture with Ineos in Nanjing, China, to make the industrial chemicals phenol and cumene.