New IP Management and Value Lab to help firms monetise IP assets

Singapore is on track  to be Asia’s Intellectual Property Hub.

Sixteen months after the country's Intellectual Property Master Plan was launched, Singapore’s Intellectual Property Office (IPOS) today launched a new intellectual property (IP) management and strategy lab.

The IP Valuelab will promote and develop IP management and strategy, IP commercialisation and monetisation, and IP valuation in Singapore.

The IP ValueLab will partner the Singapore Accountancy Commission (SAC) to develop and promote IP valuation guidelines, methodologies and best practices, as well as to develop curriculum for the training of IP valuers. SAC will also be represented in the advisory panel of the IP ValueLab, to provide strategic guidance.

According to Tan Yih San, Chief Executive of IPOS, “The IP ValueLab will better enable businesses to unlock the value of their intangible assets and ideas as their business competitive edge, to grow their business through IP. At a broader level, the lab seeks to support the development of a vibrant IP marketplace in Singapore for IP transactions and management. This is a key pillar of our vision to support Singapore-based businesses and to develop Singapore into an IP Hub of Asia.”

Here’s more from IPOS:

For companies and investors, the IP ValueLab will provide them valuation advice to monetise their IP assets. The lab will enable companies to put IP at the core of their business strategy, providing services to help them better understand and tap on IP in their growth and expansion plans.

For practitioners and academics, the IP ValueLab will provide a platform for them to collaborate on research and provide thought leadership in IP valuation methodologies and best practices, with a focus on generating industry-relevant and practicable insights. This will raise the level of confidence and trust in IP transactions, and support and stimulate international transactions. The lab will also deliver training and accreditation to raise competency within the industry.

To deliver on its goals, the IP ValueLab will partner the Singapore Accountancy Commission (SAC) to develop and promote IP valuation guidelines, methodologies and best practices, as well as to develop curriculum for the training of IP valuers. SAC will also be represented in the advisory panel of the IP ValueLab, to provide strategic guidance.