New initiatives to help firms unlock value from intellectual property

Enterprises can learn how to leverage their intellectual property (IP) through new initiatives announced during this year’s IP Week @ SG, such as guidance sessions and a platform for peer learning.

Singapore must remain a trusted place for innovation to thrive, which is why it invests in helping businesses turn intangible assets (IA) and IP into real economic value, said Minister-in-charge of Energy and Science and Technology Tan See Leng.

He was speaking at the opening ceremony of IP Week on Tuesday (Aug 26). To support enterprises in using IP for growth, the Intellectual Property Office of Singapore (Ipos) will continue to build capabilities, community and collaborations, he added.

On the capabilities front, Ipos is partnering the Franchising and Licensing Association (FLA) to provide guidance sessions on IP protection and commercialisation. In franchising and licensing, an enterprise allows others to use its business model and IP, respectively.

The partnership will also allow businesses to leverage FLA’s networks to scale across borders.

Ipos is also collaborating with SkillsFuture Singapore to identify critical gaps in skills related to IA and IP, such as IP licensing.

Building community

To build community, the Enterprise IP Community will be launched later this year. This platform aims to facilitate peer learning, mentorship and the sharing of best practices.

“We want to encourage enterprises, especially IP-savvy champions, to share best practices on strengthening IP management with each other,” said Dr Tan.

Ipos and the World Intellectual Property Organization will also hold a regional dialogue with the heads of IP offices from nearly 20 countries in the Asia-Pacific, to discuss the best practices for supporting small and medium-sized enterprises on leveraging IP for growth.

These moves are in line with the Singapore IP Strategy 2030, a national blueprint to strengthen the IA and IP regime, help enterprises use their IA and IP, as well as create jobs.

Under the strategy, online platform GoBusiness IP Grow was launched in September 2023 to improve accessibility to IP advice and support. It has since facilitated more than 4,500 requests to connect with listed service providers.

This year’s IP Week @ SG, organised by Ipos, involves 5,000 delegates from more than 40 countries, and over 100 partners and representatives from more than 20 IP offices.

As part of the programme, Ipos has concluded bilateral agreements to deepen IP cooperation with China and the UK, and signed a declaration of intent with Switzerland.

Source: The Business Times © SPH Media Limited. Permission required for reproduction.

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