The Intellectual Property Office of the Philippines (IPOPHL) and the World Intellectual Property Organization (WIPO) recently held a three-day workshop on the valuation of intellectual property (IP) assets.
The workshop, held from October 22 – 24, 2024, offered introductory and advanced lessons on valuation, aiming to deepen technology managers and business’ understanding of the various valuation methods and principles when applying them to real-world scenarios. Interactive discussions among speakers and participants likewise served as simulation exercises that put participants at the center of making business decisions based on their valuation of IP assets.
“Your role in determining the value of innovations is pivotal in bridging the gap between IP and the market. Accurate and informed valuation ensures that IP creators, inventors, and businesses alike can reap the full rewards of their intellectual efforts. This is a responsibility that has a far-reaching impact on innovation, industry growth, and even national economic growth,” IPOPHL Director General Rowel S. Barba said at the event.
The IPOPHL chief also expressed gratitude to WIPO for selecting the Philippines as the host for its seminar and to the ASEAN Secretariat and Japan IP Office for their continued support.
As the economic growth of intangible assets surpassed that of tangible goods over the decades, Finance and Valuation Expert at WIPO’s IP Commercialization Section Michael Kos said the use of IP and intangibles for financing is still in its infancy in most parts of the world.Â
“Despite its growing influence and importance, the value of intangible assets remains invisible in the world of finance,” Kos said while highlighting the importance of valuation in informing decisions on mergers and acquisition, accounting, dispute resolution and licensing.
Based on a WIPO survey conducted in 2023 with almost 400 practitioners, financial experts, technology managers and enterprises from 10 ASEAN member-states, it was identified that the biggest challenge to IP Valuation is arriving at “tangible, consistent and trusted” valuation methods, according to Kos.
As a solution, Kos offered WIPO’s IP Toolkit for ASEAN States, which IPOPHL contributed to. The toolkit could serve as a reference point, containing comprehensive guidance on IP valuation processes, useful references and case studies of best valuation practices in the ASEAN region.
The event is IPOPHL’s latest effort to build capacities of stakeholders on IP valuation.
Nationwide, IPOPHL has been elevating the skills of its Innovation and Technology Support Offices (ITSO) in assessing the value of their institutions’ technologies. In the Asia-Pacific Region, IPOPHL has produced two publications, namely “The Best Practices on Intellectual Property Valuation and FInancing in APEC” and “The Intellectual Property Valuation Manual: A Preliminary Guide.” IPOPHL also offers basic and advanced valuation classes.
For her part, Deputy Director General Ann Claire C. Cabochan reminded the participants of the role they now play in the innovation ecosystem.
“The knowledge you have gained here today is not only important for protecting and assessing IP but is also key to ensuring that our innovators, researchers and entrepreneurs can fully benefit from their creations,” Cabochan said.
“IP valuation is more than a technical process. It is a bridge that connects innovation with opportunity, it ensures that our inventors and creators’ hardwork and creativity are properly recognized and rewarded, allowing them to take their innovations to market with confidence,” she added.