The intellectual property bank is to be set up with NT$500m ($17m) from venture capital firms and local equipment companies HTC, Acer and Asustek Computer under the supervision of Taiwan's semi-official Industrial Technology Research Institute (ITRI).

Taiwan is planning to set up an intellectual property bank in June to help its companies defend themselves from accusations of patent infringement, according to the Ministry of Economic Affairs (MOEA).

The intellectual property bank is to be set up with NT$500m ($17m) from venture capital firms and local equipment companies HTC, Acer and Asustek Computer under the supervision of Taiwan’s semi-official Industrial Technology Research Institute (ITRI).

The bank will be privately-owned as it will receive less than…