February 26, 2024

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Intellectual Property for a Digital Age

OpenGov Asia is a proud media partner of IP Week @ SG 2018. Seventh year running, the event to bring together thought leaders, legal experts and innovative business owners to gain insights into intellectual property (IP) commercialisation and strategies to help expand businesses to foray the global market.

The event kicked off with welcome remarks and an opening address by Mr Darren Tang, CEO of IPOS, and Ms Indranee Rajah, Minister in the Prime Minister’s Office, Second Minister for Finance and Second Minister for Education, respectively. Their speeches anchored the relevance of IP to ride the uncertainties and opportunities in a global disruptive economy.

Innovations which are being patented in recent years concentrate on technologies like blockchain and artificial intelligence. Ms Indranee Rajah rightly pointed out that tech companies are overtaking the traditional top ten companies which once belonged to the oil and gas, and manufacturing industries. Unlike the leaders of the past, tech companies create capital not with physical assets like factories or oil fields but leverage on intangible assets. Software, databases and branding are choicest assets for any company today.

She said, “For these companies, the value of intangible assets accounts for an increasingly large portion of their company value. Globally, the enterprise value of intangible assets is now more than half of the world’s total GDP, and has more than doubled since the turn of the century.”

With the volume of innovations expected to swell, a simultaneous increase in patent and trademark filing will follow suit. Furthermore, if economies want to thrive in an innovation driven economy, businesses must be proactive in filing for intellectual property protection services. Moreover, in a globalised economy, companies must be bold in taking their assets abroad to venture larger and untapped markets. Necessarily, they must be keen on drafting a comprehensive IP commercialisation strategy if they wish to remain profitable.

It is these beliefs which underpin this year’s IP Week @ SG conference theme – “Ideas to Assets: Connecting Markets through IP”.

For a tiny island set in the sea, Singapore seeks to once again reinvent itself for changing tides in the global economy. Asia is widely touted as the next driver of growth. The major shift signals major opportunities. Not to be drowned out by the success of its neighbours or its relatively smaller population, the Republic sees itself as a hub to connect markets through IP. As a hub, Singapore will remain relevant and competitive for Industry 4.0.

Nestled in Asia, Singapore will be able to provide important IP services for companies venturing into the region. Banking on its superb connectivity to international markets, Singapore is well positioned to cooperate and provide IP services. Initiatives such as accelerated patent prosecution and work-sharing arrangements include the Global Patent Prosecution Highway program and the ASEAN Patent Examination Cooperation Program seek to provide hospitable grounds for trading partners. Singapore also offers IP management and advisory services, IP training and patent search services.

Ms Indranee Rajah reiterated the Government’s broad strategy for upskilling and future-readying the workforce and enterprises. To help companies turn their intangible assets into tangible value, the Government has penned attractive policies to assist them.

For starters, under the 2018 Budget, companies can expect to receive more tax breaks for registering new IP rights and licensing payments for the commercial use of IP. Secondly, companies may receive IP strategy and management advisory services from the IP ValueLab, a subsidiary of IPOS. Thirdly, IPOS is working with industry partners to raise the awareness of IP litigation insurance in an effort to defray costs. The insurance is imperative as hefty litigation fees often deter companies seeking to enforce their IP rights thereby compromising their profitability.

Governments in tandem with businesses should work to undertake a comprehensive IP management and strategy. Singapore IPOS’ current efforts are exemplary in their initiative.

Summing up, Minister Indranee Rajah said, “In the future economy, IP rights play an important role as an essential and strategic tool for business growth, helping our companies protect their innovations and bring their products and services to the global market. Foreign enterprises can also make use of Singapore as a trusted base for the translation of their ideas and IP into products and services.”

IP Week @ SG is organised by the Intellectual Property Office of Singapore (IPOS), IP Academy, IPOS International and IP ValueLab. The event is held between 4 to 5 September 2018, at the Marina Bay Sands Convention Centre. Associated and by-invitation-only events are held throughout the week as well.

For more information, visit the IP Week @ SG site.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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