IPOPHL finds win-win solution for inventors and investors

The Intellectual Property Office of the Philippines (IPOPHL) wants to help inventors by crafting beneficial licensing agreements for their work, essentially giving them markets for their creations sans infringing on their intellectual property rights.

The agency signed a memorandum of agreement with the Licensing Executives Society Philippines (LESP) last month, the IPOPHL said in a statement.

Under the agreement, the IPOPHL and the local arm of a global federation involved in licensing and technology transfer would jointly organize a certificate program for advanced learning on IP licensing in the Philippines. The goal is to help inventor-investor partners create a win-win licensing agreement.

“Through IP licensing, we can cultivate more patents, establish greater trademarks and elevate more copyrighted works into cultural icons. This effort to promote licensing will enable our fellowmen to see the greater opportunities from creating IP, in turn, fueling innovation and creativity which are key engines for driving economic and societal progress,” IPOPHL Director General Rowel Barba said.

This developed as the IPOPHL saw an unprecedented number of complaints of IP rights violations from January to September this year, more than the total reports it had received in the past five years.

Through a licensing agreement, the IP right holder authorizes another party to use, manufacture or distribute his IP assets without infringing on his rights.

Licensing is a promising strategy for bringing IP assets, such as brands, technological solutions or creative content, into more diverse markets. It would give inventors access to more people who could benefit from their works, the IPOPHL said.

This also adds to the revenue streams IP owners can enjoy as they can earn from the sale of licensees at zero cost, given that the licensee usually shoulders all expenses, from manufacturing to distribution and marketing, according to the agency.

“We are confident that our partnership with LESP will continue to build up our institution as a whole. The reciprocal interest that we can enrich on both ends will create a long-lasting impact that will benefit many people throughout the Philippines and even the world,” Barba said. INQ