The event held by the trade secret protection steering station at Yangtze River Delta Sci-Tech Essential Factors Exchange on May 28 allowed the participating enterprises to gain a better understanding of the new insurance model that has been pioneered in Suzhou since last year for trade secret protection.

In the first case under this model, five tech companies in SIP received the trade secret confirmation and registration certificate along with a trade secret insurance policy together. The insurance covers investigation cost, legal fees and direct financial loss caused by trade secret misappropriation, and the compensation can be up to RMB3 million.

In this case, with the support from SIP Market Supervision Bureau, the trade secret protection steering station at Yangtze River Delta Sci-Tech Essential Factors Exchange bears the insurance expense, while the trade secret assets center of Shanghai Technology Exchange provided training on preliminary trade secret confirmation and registration as well as review services, and the SIP branch of PICC Property and Casualty Co Ltd (PICC P&C) serves as the insurance underwriter.

At the event, a specific introduction to the insurance mechanism was given to the enterprises, covering its design, coverage, value and scope of application, and typical cases were analyzed.

May 29, 2025