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Tuesday, March 3, 2009

Chinese Bidder on Yves St. Laurent Auction Refuses to Pay $40 Million

I think that caught a lot of attention lately, in particular, the Chinese guy who succeed in bidding the Chinese Bronze Rat Head and Rabbit Head last week at Christie's.

This 'winner' hold a press conference on 2 Mar 2009, proudly saying that he will not pay, and the other spokesperson in the press conference said (in Chinese) "The world has learnt a lesson".

I think we learnt that lesson long time ago and this press conference just reinforce our learning:
We demand money on account for all Chinese customers, no matter they are new or recurring customers. In particular, when it is time for filing of application that we need to pay for government fee, we felt as urgent as the client. That is, if they don't pay us money on account, we will not pay on their behalf for any government fee.

We do understanding inventors / companies do have cash flow problem from time to time, but holding a press conference and say that out loud (and proudly) "... what I want to stress is that I will not pay" is a little bit too much.

See the related news here:

1 comment:

m0cha_1atte said...

Hi there Patent Agent - Just following up on our earlier discussion on patent translation, I am going to formally launch a patent translation service near the end of the year, initially for English to/from Chinese then later to/from Japanese and Korean.

I will have experienced translators (all CUHK 翻譯系 graduates) + qualified attorneys with drafting experience (overseas jurisdiction) for the work.

Let me know if you are interested in outsourcing your translation work to us. We should already be able to take informal engagement from now.