Studies by IPOS show that there is a direct link between IP and better business performance
Two studies conducted by the Intellectual Property Office of Singapore (IPOS) were released on May 17, 2023, during the 2023 International Trademark Association’s (INTA) Annual Meeting Live+ held in Singapore. The studies examined the correlation between intellectual property (IP) and business performance.
The first study, titled “The Brands, Patents and Company Performance Study,” analyzed Singapore’s largest businesses and found that companies with strong brands and/or patent portfolios had approximately double the revenue, net profit, and market capitalization compared to those without such assets.
The second study, titled “The Singapore IP and Firms’ Performance Study,” focused on the past decade and revealed that Singaporean enterprises with registered trademarks experienced over a 10% increase in profits compared to businesses without registered IP. Furthermore, businesses with both trademarks and patents achieved around twice the profits of those without registered IP.
Edwin Tong SC, Singapore’s Minister for Culture, Community and Youth, and Second Minister for Law, officiated the event and emphasized the importance of brands and IP in driving business growth and performance, especially in a highly competitive global marketplace. He pledged ongoing support for businesses utilizing their IP assets to foster growth in, from, and through Singapore.
Direct link between IP and better business performance
IP rights, such as patents, trademarks, copyrights, and trade secrets, provide legal protection and exclusivity over innovative ideas, inventions, brand identities, creative works, and valuable business information.
This protection allows businesses to prevent others from copying or exploiting their IP, giving them a competitive advantage. By safeguarding their unique assets, companies can attract investors, secure market share, and command higher prices, directly impacting their overall performance.
In addition, IP can be monetized through various means, including licensing, franchising, and selling IP assets. By licensing their IP to other businesses, organizations can generate additional revenue streams without directly engaging in production or distribution.
This can lead to increased profitability and business growth. Furthermore, IP can serve as collateral for securing loans or attracting investment, enabling companies to access capital for expansion or research and development (R&D) activities, further enhancing their performance.
Lastly, IP assets can be valuable bargaining chips in partnerships, collaborations, or cross-licensing agreements. Businesses can leverage their IP to negotiate mutually beneficial agreements, access complementary technologies or markets, and expand their reach.
Collaborations with other entities can lead to shared knowledge, accelerated innovation, reduced costs, and enhanced market positioning, all of which can contribute to better business performance.
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– You could visit here to see Procedure of Singapore Trademark Registration.
– You could visit here to check the required documents for filing trademark in Singapore
– You can also check the Fee of Trademark In Singapore here.
– You could check how to register trademark in Singapore here.
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