'Father of hybrid rice' name, image bought for 51.51 mln yuan   

上市公司5151万元买断袁隆平冠名权和肖像权

隆平高科（000998）昨天发布公告称，将买断“袁隆平冠名权及肖像权”，以便在经营活动中独占袁隆平院士的姓名权和肖像权，包括“袁隆平”、“隆平”及相应的中英文名称，以及任何关于袁隆平院士肖像的图片、照片。[查看全文]

(ECNS ) -- The exclusive name and image rights to Yuan Longping, China's "father of hybrid rice," have been purchased for 51.51 million yuan ($8.4 million).

Twenty-two companies had been using Yuan's name and image to promote their businesses. Yuan's brand value was estimated to be 51.51 million yuan as of June 30, 2014, according to an evaluation by Beifang Yashi, an asset appraisal company.

Longping High-Tech was the sole owner of Yuan Longping's name and image rights after the buyout.

The company paid the famous scientist 5.8 million yuan for the right to use his name when it went public in 2000. Yuan exchanged part of the payment for shares, becoming the fourth largest shareholder in the company.

Longping High-Tech consists of Hunan Longping High-tech Nongping Seeds Industry Co., Ltd.; Hunan Xiangyan Seeds Industry Co., Ltd; and other operating organizations.

Longping High-Tech mainly focuses on new crop variety breeding and innovation, seed multiplication and seed sales, according to its website.