Staying ahead in today’s business world means more than just having a great product or service – it’s about protecting and leveraging the intellectual property (IP) underlying them to fuel growth and innovation. Yet, many businesses struggle with navigating the complexities of IP management, often lacking the know-how to safeguard their innovations and turn them into valuable assets.
As a global leader in the IP landscape, Singapore has been recognised for its robust IP regime, ranking highly in various international indices. According to the World Intellectual Property Organization (WIPO), Singapore was among the top 10 countries in Asia for patent filings, reflecting its strong emphasis on innovation. A report by the Intellectual Property Office of Singapore (IPOS) highlighted that Singapore saw a significant increase in patent applications, with a notable rise in filings from the biotechnology and artificial intelligence sectors.
With IP-intensive industries accounting for nearly half of the nation’s GDP, the stakes are high. Businesses must prioritise innovation while ensuring their intangible assets (IA) are adequately protected. However, without the right knowledge and guidance, many companies find themselves vulnerable, missing out on the full potential of their IA/IP to drive sustainable growth and long-term success.
Maximising the potential of your intellectual property with professional guidance
Thriving in a competitive market requires businesses to both innovate and strategically manage their IP. Beyond simply protecting your IP, the real advantage lies in unlocking new opportunities by commercialising these assets and turning them into revenue streams. This could mean licensing your IP to other companies or even using your IP as collateral for financing.
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Effective IP management secures your unique business assets, confers market exclusivity, fosters innovation, enhances competitiveness, and drives growth.
Navigating the intricacies of IP management can be complex and varies across different industries. This is where professional guidance becomes invaluable, ensuring you can explore your options with confidence.
Meet Sarnies: A success story
Consider Sarnies, a popular cafe establishment in Singapore known for its coffee and brunch offerings. To protect its unique recipes and brand identity, the brand sought assistance from Exy Intellectual Property. Exy expertly guided them through the process of securing patents and trademarks.
With their IP securely protected, Sarnies was able to confidently expand into new markets. This strategic approach transformed Sarnies’ IA/IP into a competitive advantage, boosting brand loyalty and driving revenue growth. Sarnies’ success story illustrates how professional guidance can simplify the IP registration process and unlock the potential of IA/IP for business success.
Discover GoBusiness IP Grow: Your Trusted IP Resource
For businesses looking to seek IP experts for guidance, GoBusiness IP Grow is an online marketplace designed to support businesses in leveraging IA and IP for business success. The self-help platform offers a comprehensive suite of 20 IA/IP services directories, from patent agents and IP strategy consulting to valuation and tax advisory services. It enables businesses to easily access and leverage the right resources throughout their innovation journey.
“Business owners often struggle with identifying the types of IA and IP support they need at each stage of the innovation cycle,” says Fu Zhikang, Director of IP Strategy Solutions unit at IPOS International, a subsidiary of the Intellectual Property Office of Singapore (IPOS).
“GoBusiness IP Grow enables business owners to understand their IA and IP needs, and connects them to service providers who can help them, all through a single platform,” Zhikang says.
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Both service providers and enterprises have shared their positive experiences with GoBusiness IP Grow, acknowledging the value it brings to the IP ecosystem.
Mr Matthew English, Partner at Marks & Clerk Singapore LLP, commended the platform for its “invaluable support and resources”. “We are truly grateful for the dedication and effort put into making this platform user-friendly and highly informative.”
Mr Ng Wei Beng, CEO of STXJ Technologies Pte Ltd, utilised GoBusiness IP Grow during his decision-making process. Through the platform, he identified and engaged a service provider that met his needs. “For anyone who is starting as a technology entrepreneur, the GoBusiness IP Grow is a wonderful platform to get help on IP planning for your businesses.”
Join IP Week @ SG 2024 for free talks and complimentary consultations
To further support businesses in their IP journey, GoBusiness IP Grow will be hosting two complimentary events on August 27th-28th during IP Week @ SG 2024 at the Marina Bay Sands Expo & Convention Centre. This premier IP event provides an invaluable platform for businesses to engage directly with IP experts, gain insights, and elevate their strategies.
“Regardless of whether they are startups, SMEs, or multinational companies, effectively managing and protecting these intangible assets is crucial for companies to safeguard business value and foster growth,” says Zhikang.
1) Register for Free Panel discussions by experts
2) Book free 45-minute consultations at Connect @ GoBusiness IP Grow
Attendees can book in-person consultations with IP professionals to receive tailored, complimentary advice across 4 main IP-related areas:
Participants who secure an appointment will be eligible to receive a complimentary ticket to IP Week, valued at $1,700, with limited availability on a first-come, first-served basis.
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Additionally, the free events offer valuable networking opportunities, allowing participants to connect with other enterprises, share experiences, and build relationships within the community. Registration for the events is complimentary, with tea breaks provided for participants.
Businesses are highly encouraged to maximise these opportunities. To register for the panel discussion, click here. To book an appointment for a free 45-minute consultation, click here.
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This article is produced by the e27 team, sponsored by IPOS
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