Purpose - Based upon the review of theoretical frameworks and the author's practical experiences in intellectual property management, this paper proposes a theoretical framework which intends to accord the current development of intellectual property (IP) management and strategy in China. It is constituted of two engines, namely innovation engine and intellectual property engine which are related closely to management of technology a strategic instrument in creating wealth and prosperity. The latter is also stated "5-IPs" management pattern, i.e. intellectual property advantages (IPAs), intellectual property economy (IPE), intellectual property strategy (IPS), intellectual property talents (IPTs) and intellectual property culture (IPC) as essential factors. Design/methodology/approach Briefly elaborating basic concepts and main characteristics of "5-IPs", this work discusses the theoretical framework and the application of these pattern in Henan Province of PRC. Findings This work presents a whole picture of how the policy makers in Henan Province developed and implemented its IP management strategy. Theoretically this work presents a strategic framework, which intends to create an innovation model and enables the decision-makers and IP practitioners to make more appropriate arrangement when addressing IP related issues. Originality/Contribution to Knowledge This study presents the crucial tenets of the strategic framework, which underpins the identification of the appropriateness and effectiveness of China's intellectual property right strategy. The distinctiveness of the study lies in (1) advancing the current literature on the establishment of intellectual property right system in China (2) presenting a case study of Henan Province in terms of how the province has developed its IP management strategy, and (3) assessing the leading changes, impact and the policy implication after the implementation of the project.