Singapore, 25 May 2009 – Are you systematically tracking and leveraging your intellectual assets to support your strategic and commercial objectives? From today, the Intellectual Property Office of Singapore (IPOS) has launched its new “IP Knowledge Kaleidoscope” on its website. This will feature a series of intellectual property (IP) management factsheets to provide businesses with an insight into the many facets of their intellectual assets. Doing so will assist businesses with the knowledge to better incorporate intellectual property (IP) in their overall business strategy to help improve their competitiveness and strategic advantage.
The first topic for “IP Knowledge Kaleidoscope”, now available on IPOS’ website, will showcase the licensing of IP rights as an effective tool for achieving business goals. Licensing can help an IP owner expand his/her business and ensure a steady stream of additional income. It can also enable an IP licensee to manufacture and market goods and services which he/she may otherwise be prevented from doing. Information in the factsheet will include considerations for the licensor and licensee before adopting a licensing strategy, how to prepare to negotiate a licence agreement, issues to consider when negotiating a licence agreement and the procedure for registration of licenses.
In conjunction with this, IPOS will at the same time, be launching on its website, a list of patents in force in Singapore which are endorsed with a Licence of Right (LOR). A patent endorsed with LOR means that the patent owner is willing to grant a licence to an interested party to use the patented invention. This licence will be on terms agreed between the parties. If you are a patent owner and are interested to licence-out, the LOR endorsement may help you attract licensees. Patent owners who licence-out their patents will enjoy a 50 percent savings on their patent renewal fees.
The current economic climate presents a strong call for businesses to realise that unlocking the value of their IP could be a tool to help them brace for the recession. A downturn can be a good time to strengthen IPM capabilities and processes. Skills and processes required to prioritise IP assets, spot opportunities to generate revenue from licensing or sale of IP assets can become part of a business’ intangible assets that will give the business a strategic advantage when the economy picks up. More details on how businesses can take stock of their IP portfolio and draw on their IP credit can also be found within the “IP Knowledge Kaleidoscope” webpages.
IPOS Director-General, Ms Liew Woon Yin affirms that “effective IP management goes hand in hand with sound business strategy. The launch of IP Knowledge Kaleidoscope and the new patent resource will add to our arsenal of programmes and initiatives for businesses.” Examples of other resources for businesses, which can be found on IPOS’ website, include the recently added Glossary of IP Terms in Chinese that would be useful for businesses and the self-help “IP Starter” to help businesses recognise the importance of IP management as a business capability and to better leverage on IP to capture growth opportunities
The IP Knowledge Kaleidoscope and LOR database can be accessed through the IPOS website at http://www.ipos.gov.sg.
For media enquiries, please contact:
Clara Wee (Ms)
Public Relations Department
Intellectual Property Office of Singapore
DID: +65 6331 6574
Fax: +65 6331 6562
Email: clara_wee@ipos.gov.sg
The Intellectual Property Office of Singapore (IPOS), a statutory board under the Ministry of Law since April 2001, is the lead government agency that advises on and administers intellectual property (IP) laws, promotes IP awareness and provides the infrastructure to facilitate the development of IP in Singapore. With IP fast becoming a critical resource in today’s new economy, IPOS’s vision is to foster a creative Singapore where ideas and intellectual efforts are valued, developed and exploited. More information on IPOS can be found on www.ipos.gov.sg.