THE country’s intellectual property (IP) regulator on Friday said it would roll out new services in 2025, one of which caters to valuation and commercialization.
Intellectual Property Office of the Philippines (IPOPhl) Director General Rowel Barba disclosed the agency’s updated strategy includes enhancing capacity of IP valuation.
This will enable creators to secure financing by using their IP as collateral, Barba explained, adding this is useful, especially for game development, where funding has been difficult to access.
“In other countries, there are third parties that conduct valuation, but in the Philippines, we have none. And we cannot wait; we need to act before they come in and do the valuation for us,” Barba told reporters.
The service will engage banks to accept IP as collateral and promote its commercialization through marketable ventures that can benefit creators financially.
Barba said Japan, Korea and Canada had been accepting IP as collateral through their state banks. But he pointed out the need to build local capacity to value IP accurately before engaging local banks.
The new IP valuation system service will be launched by mid-2025 and is expected to assist creators in commercializing their IP. Barba said accurate IP valuation would help creators understand their minimum investment recovery and negotiate better deals.
Last week, IPOPhl launched the Philippine Intellectual Property Strategy (Phips) 2025-2030 to maximize the use of emerging tools like artificial intelligence (AI), promote IP valuation, and strengthen collaboration to drive economic growth, protect cultural heritage and contribute to sustainable development goals. In the road map, the IPOPhl identified four key strategies to attract global investments and stimulate domestic innovative and creative activities. These include strengthening IP awareness and education, building systems for IP valuation and commercialization, enhancing local and global cooperation, and maximizing emerging technologies.
The agency will also upgrade its systems based on the World Intellectual Property Organization. Its current system, Industrial Property Automation System, or IPAS, includes enhancement but suffers from downtime issues.
Be the first to comment