In the recently concluded 12th Business of IP Asia Forum held at the Hong Kong Convention and Exhibition Centre on December 1 and 2, Rowel Barba, chair of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and who is also director general of the Intellectual Property Office of the Philippines (IPOPHL) shared that under the current ASEAN IPR Action Plan 2016-2025, ASEAN has several initiatives supporting IP Commercialization and Technology Transfer.
“I am pleased to share that we currently have more than 100 Technology Transfer Offices (TTOs) and Innovation and Technology Support Offices (ITSOs) or sometimes referred to as Technology and Innovation Support Centers (TISCs) within the ASEAN region,” he said in his speech. “More are being set up in universities and R&D centres to provide support in the whole process of utilizing and commercializing innovations and creations of these institutions, including the protection and management of their intellectual property rights.”
He added, “Understanding technology licensing is the first step in managing the technology transfer process effectively and in promoting IP trading. More can be done to support our TISCs and TTOs to ease their journey from the lab to the marketplace.”
A Study on IP Valuation for the ASEAN area that ASEAN just finished has offered recommendations for international best practices that ASEAN Member States may use when creating their own IP valuation infrastructure. To assist businesses better understand how they might leverage their intellectual property and intangible assets to obtain financing and capital loans from lending institutions, they will continue with a Study on IP Financing as their next steps.
“From the point of view of policymakers, there is a need to expand the development of our region’s IP Commercialization landscape to ensure enhanced IP protection, increased R&D capacity, and seamless technology transfer processes,” he said. “Hence, the completion of the said deliverables under the AIPRAP 2016-2025. With the fourth industrial revolution, economic growth now relies on knowledge, creativity, and innovation, which we should all learn to harness, protect, commercialize, exploit, and manage.”
– Excel V. Dyquiangco