Launched of IPOS Entity to Help Drive Business Growth
New One-stop IPOS Centre for Even Greater Business Convenience
Singapore is moving towards becoming a trusted Intellectual Property (IP) hub. The launch of its new IPOS entity is a step in that direction.
IPOS International is the new entity of Intellectual Property Office of Singapore (IPOS). It will function in an advisory capacity for businesses regarding how best to expand their intangible assets. More than 100 experts will come together to provide advice in several areas. These areas include patent search, strategy, management, analysis and training.
The new IPOS entity will merge the enterprise engagement, patent examination unity and IP training together for greater convenience. Any enterprise in Singapore looking to drive growth will now have a one-stop IP hub to do it. Singapore is doubling its efforts to establish itself as a trusted IP hub. The launch of this new entity is expected to help businesses fully utilize their intangible assets.
About Intellectual Property (IP)
IP is part of the “intangible assets” category. This category of assets is expected to drive the next global growth wave. As of now, intangible assets make up two-thirds of the global economy (US$50 trillion). This comprises patents, trademarks, brands, software and acquisitions of information technology. 80% of corporate balance sheets in 500 of the U. S’s largest public listed companies have intangible assets.
As a start, IPOS has made a free tool available to assist businesses with their IP management status. A business can get key insight into its possible IP gaps in a mere 10-minutes. Risks, tips and further recommendations for improvement are also part of this free tool’s service.
Additionally, a new national framework has been unveiled to train IP talent and raise the overall competencies of professionals. The framework is aimed at assisting professionals identify career paths, together with the necessary skills for success. This covers professionals in both private and public sector roles. 60 technical and general skills, along with 11 job roles are covered as part of the framework. Technical and general skills cover management, patent prosecution, commercialisation and strategy.