It is important for intellectual property to be correctly valued in order to value a business correctly. The value of an IP asset derives, in essence, from its ability to exclude competitors from a particular market.
The Technology Application and Promotion Institute of the Department of Science and Technology (DOST-TAPI) has been focusing on Intellectual Property (IP) valuation.
It is important for IP to be correctly valued in order to value a business correctly. Moreover, it can generate and contribute to the national income.
The technology valuation initiatives of the Philippine Council for Health Research and Development (DOST-PCHRD) projects was bolstered by a meeting attended by the DOST-TAPI, PCHRD, the University of the Philippines Manila (UPM) and the Ateneo de Manila University (AdMU).
According to a recent report, the objective of the meeting was to engage involved parties in crafting target deliverables and effective strategies for the project entitled, “Valuation of Technologies Generated from PCHRD-funded Research Projects” which will be spearheaded by DOST-TAPI.
The project has a one year duration which started on June 2018 and will end in May 2019.
Among the technologies endorsed for valuation were Community Health Information System (CHITS) by the UPM; and the AdMU-developed eHealth TABLET, or Technology Assisted Boards for LGU Efficiency and Transparency, for Informed Decision-Making for local government units.
Other projects also endorsed were Lagundi tablet and syrup, Sambong tablet, Akapulko lotion, Tsaang Gubat and Yerba Buena tablet.
The IP valuation process includes identifying issues, factors and methodologies used in giving value to IP portfolios or license deals.
It is crucial in the implementation of Republic Act 10055, also known as the Philippine Technology Transfer Act of 2009, which seeks to commercialise technologies generated by government-funded researches.
In a different event, the DOST-TAPI conducted training on advanced IP valuation particularly of emerging technologies, according to a recent report.
The aim of the training was to discuss the significance of IP valuation on technologies deemed to create promising effects on both economic and social progress including the possible damages incurred from patent infringement.
This was done in support for the Department’s project on the commercialisation of DOST-generated technologies and strengthening of the IP and technology portfolios of the Philippines.
The significance of IP valuation as well as technology transfer activities resulted from government-funded research and development (R&D) in generating and contributing to national income is recognised.
According to the World Intellectual Property Organisation (WIPO), the value of an asset, whether tangible or intangible, is the value of the future economic benefits it brings.
A plethora of IP assets was given. They include patents, industrial designs, trademarks, copyright and trade secrets.
The value of an IP asset derives, in essence, from its ability to exclude competitors from a particular market.
The two-day training has provided the necessary skill set in valuing patents among the participants who can have a career as or are currently dealing with financial analysts, technology transfer professionals, IP managers, licensing managers, inventors, patent lawyers, and business development executives.
The training program was completed by 49 participants coming from DOST agencies, state universities and colleges, and the academe.
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