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Home > News & Events > Press Releases > 2007
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SPRING & IPOS launch new Intellectual Property Management Programme for SMEs
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A curry puff is more than just potatoes and egg wrapped in pastry. There’s one more critical ingredient – intellectual property (IP). Just like the technology in a ThumbDrive® or the design of a collectible toy, there is IP in even a curry puff that gives the company its competitive advantage.
SINGAPORE, 23 January 2007 - SMEs can now benefit from a new programme launched by SPRING Singapore and Intellectual Property Office of Singapore (IPOS) that will help them to improve their competitiveness and strategic advantage by managing their IP effectively.
The $9 million Intellectual Property Management (IPM) for SMEs Programme aims to encourage SMEs to develop a strategy to create, own, protect and exploit their IP such as brand, design, trade secrets or customer relation systems. Some 200 SMEs will benefit from the programme over the next two years, which provides financial support of up to 50% for the following:
- An IPM diagnostic programme conducted by legal and business experts using IPOS’ proprietary SCOPE IP™ methodology. SCOPE IP™ helps businesses evaluate if their overall IP deployment strategy and IPM systems effectively support their business model.
- Programmes to help companies improve their in-house IPM capabilities.
Minister of State for Trade and Industry Mr Lee Yi Shyan announced the IPM programme today during his visit to Old Chang Kee, a strong Singapore brand backed by robust internal processes and product innovation. “IP is an essential enabler for companies who want to achieve and sustain a competitive advantage. It is therefore vital for our SMEs to manage their IP properly,” Mr Lee said.
“We hope to encourage more SMEs to recognise the importance of IP management as a business capability. There is potential IP in any product or service across industries, and we will work with our SMEs to better leverage on IP to capture growth opportunities.” SPRING Singapore Deputy Chief Executive Mr Png Cheong Boon said,
“SMEs are often the source of innovation and new business concepts. These ideas need to be protected in an effective and affordable way so that the companies which come up with them are in a good position to commercialise and benefit from them. The new IPM programme aims to assist and equip SMEs in this area, and enable them to innovate and develop higher value products and services for the global market.” IPOS Assistant Director-General, Ms Chiam Lu-Lin affirmed that,
“Sound business strategy goes hand in hand with effective IP management. Only when you have a firm grip on both these aspects will you be able to fully realize the value of your investment whether local or overseas.” A study of the Standard & Poor 500 companies showed that, on average, intangible assets made up 38% of a company’s total market value in 1982. Two decades later, in 2002, intangible assets made up 82% of a company’s total market value. It is not just multinationals that have seen this fundamental shift. SMEs have also leveraged on their IP to grow.
Old Chang Kee is one of the first SMEs to take up the Intellectual Property Management project. The company has completed the diagnostics and from the results, developed a capability development plan to better realise the value of their intangible assets, including their brand, trademark and secret recipes. Mr Han Keen Juan, Chairman of Old Chang Kee said,
“We have learnt much from the process of IP diagnosis, it is like a health check. Old Chang Kee is unique because we have a team that understands and properly manages our important IP assets. Creating & owning IP builds long term value for our company and its shareholders." Mr William Lim, Chief Executive Officer of Old Chang Kee added, "What is important for us next is to put our knowledge into action, because what you do with your IP makes the difference. We will work closely with our team and IP advisors to develop and protect our IP capability, and to transfer IP know-how and concepts to our people so that we can grow using our IP. ” Mr Banh Yinh Jeow, founder and Chairman of Stikfas, a home-grown toy company that has made an impact on the global toy industry agrees and added,
“The very backbone of our business is IP. When we create a new product, we first put our money into protecting the IP before anything else, including manufacturing or marketing. IP management works hand-in-hand with our business strategies.”
For another SME – Organisation of Amateur Asian Golfers (OAAG), its major IP asset lies in its confidential information. “The way we build up relationships with private golf clubs is kept as a trade secret as it takes a great deal of effort for us to get our members into these clubs without having to pay the membership fees,” said Mr Nicklaus D’Cruz, CEO and Founder of OAAG. “We will focus on protecting our IP more vigorously, especially as we are branching into new international territories.”
Enterprises interested to find out more about the Intellectual Property Management (IPM) for SMEs Programme can contact:
~~~ End of Media Release ~~~ SPRING Singapore's mission is to enhance the competitiveness of enterprises for a vibrant Singapore economy. We work to nurture a pro-business environment that encourages enterprise formation and growth; facilitate the growth of industries; enhance productivity and innovation and capabilities of enterprises; and help increase access to markets and business opportunities.Please visit www.spring.gov.sg for more information and news about SPRING Singapore. The Intellectual Property Office of Singapore or IPOS is the lead government agency that formulates and regulates Intellectual Property (IP) laws, promotes IP awareness and provides the infrastructure to facilitate the greater development of IP in Singapore. With IP fast becoming a critical resource in today’s new economy, IPOS’ vision is to foster a creative Singapore where ideas and intellectual efforts are valued, developed and exploited. Formerly known as the Registry of Trade Marks and Patents, IPOS was established as a statutory board of the Ministry of Law on 1 April 2001. More information on IPOS can be found on www.ipos.gov.sg. For media enquiries, please contact:
Audrey Chin
Senior Manager, Corporate Communications
SPRING Singapore
Direct: 6279 3198
Mobile: 8100 3096
E-mail: audrey_chin@spring.gov.sg |
Angelia Chia
Senior Executive, Media and Marketing Communications
Intellectual Property Office of Singapore
Direct: 6331 6572
Mobile: 9763 0452
E-mail: angelia_chia@ipos.gov.sg | |
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Last updated on 05 Oct 2011 |
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