Red rice which has a long history is a Traditional Chinese Medicine（TCM）. Xuezhikang born in the nineties of the last century is the second innovation to red rice. This article describes the Red rice culture and applications，the research and development，industrial achievements and patent protection of xuezhikang，and analyzes the policy between the process of innovation and the protection of xuezhikang，then define the second innovation in Traditional Chinese Medicine. The experience for Intellectual property rights protection of Xuezhikang should provide inspiration and reference to other TCM companies.