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Innovation, especially in the technology-driven industries such as the laser industry, is the key to business success in China for SMEs as it provides them with a comparative advantage over competitors. When entering China’s market many SMEs transfer their innovative technology, may it be through licensing, establishing joint ventures or through R&D collaborations. While technology transfer opens up business opportunities, transferring technology to China involves IP risks which SMEs should be aware of to avoid losing their competitive advantage due to loss of IP to competitors. It is thus important for SMEs active in the laser industry to devise a comprehensive IP strategy taking into account technology transfer risks and new developments in China’s IP landscape when entering China’s market.