IPOPHL, PTTC help MSMEs maximize their IPs thru audit, valuation and licensing webinar
July 9, 2021
Almost 200 micro, small and medium sized enterprises (MSMEs) from around the world were recently equipped by the Intellectual Property Office of the Philippines (IPOPHL) to better audit, valuate and license out their intellectual property (IP) assets, helping them uncover and maximize the potential value of their intangible assets.
Co-organized with the Philippine Trade Training Center, the “Licensing, Audit and Valuation (LAV) IP 101 for MSMEs” was held as a side event to the Asia Pacific Economic Cooperation’s (APEC) Global MSME Forum organized by the Philippines on June 28 to 30, 2021.
At the webinar, Jalyza Maye Jalbuena, technology transfer officer of the University of the Philippines Los Baños’ discussed the important elements in preparing and conducting an IP audit.
An IP audit is a systematic and comprehensive review of all IPs owned, used or acquired by a business.
It can be conducted by businesses with the broader purpose of knowing its total inventory of intangible assets and which it needs to protect; to assess the financial, commercial and legal benefits and risks of investing in, selling or licensing out an IP; and to evaluate the legal limits of a business move to avoid infringement and being infringed on.
Meanwhile, Atty. Augusto R. Bundang, Legal Counsel of the Association of Advertising Agencies in the Philippines, discussed the common types of trademark licensing, the main due diligence considerations before entering a licensing contract, and the need for MSMEs to ensure framing a contract that maintains their control over the good will of their trademarks and other IP assets.
On valuation, IPOPHL’s IP Rights Specialist IV Ace C. Acosta elaborated the main computation methods in valuing an IP asset and in which business objectives they are best to employ.
For her part, Dr. Merlinda Palencia, the inventor behind the award-winning Vigormin Biogenic Minerals technology for the treatment of home septic tank wastewater, shared how her invention was commercialized with the help of the Technopreneurship Program of the Department of Science and Technology (DOST), trademark registration and patent grant from IPOPHL, and incentives from the Board of Investments (BOI).
Aside from the 200 MSMEs, around 600 stakeholders were able to learn about licensing, audit and valuation of IP through PTTC’s Facebook live stream of the event.
The APEC Global MSME Forum, which made possible the LAV IP Webinar, recognizes the critical role of MSMEs in the recovery of the APEC region as a whole. It provided a platform for the exchange of entrepreneurs’ views on emerging challenges and best practices.
“A robust IP strategy has empowered companies of any size to conquer economic challenges and thrive more resiliently in post-crisis years. Despite this, the awareness of IP remains low among MSMEs,” IPOPHL Director General Rowel S. Barba said in his opening remarks.
“So our ultimate goal is to create a paradigm shift, where MSMEs think of IP as an investment — a long-term investment — rather than a cost. Because it is,” he added. ### (Janina Lim, Media Relations Officer)
