1. The Importance of Intellectual Property (IP)
In today's knowledge-driven economy, intellectual property has become increasingly significant to Singapore-based companies operating across a wide variety of industries. Intangible assets such as brands, designs, technologies, franchises, licences etc can play a bigger role in generating and sustaining the financial performance of businesses.

2. What is IP?
IP are creations of the mind that is protected by law to facilitate commerce such as in the form of copyrights, trademark registrations, registered designs, patent, plant variety protection, layout-designs of integrated circuits, geographical indications, trade secrets and confidential information.

3. Business Applications of IP
Many top companies have a common feature, they share a high level of intangible assets. From IBM to Dell, Proctor & Gamble to Coca Cola to McDonald's, these corporations have strategically used IP to capture market share and shareholder value. For example in 2003, Cola Cola's market capitalisation was US$115 billion, almost 10 times its book value (Source: Fortune 500).

Strategic use of IP will enable growing companies to:

• protect market share
• exploit new revenue streams to create competitive advantage
• build up a robust IP management infrastructure in ensuring adequate and effective protection in different markets and industries
• align IP strategy to business strategy
• leverage new/ re-bundled IPs for enhanced service offerings

Strategic IP activities include:

a) IP Market Research
To conduct an IP Search/ SWOT analysis for the company's products or services in a particular market and industry.

For example:

• to determine the need to develop in-house innovations vs acquiring external technologies/know-how via licensing or JVs.
• where development/ protection of unique product designs to differentiate a company's product/services from their competitors or counterfeiters.
• to develop an IP market feasibility/ exploitation study

b) IP Audit (IP Health Check)
To provide an overview of the state of IP available in a company and whether these IPs are currently utilised for optimal business growth.

c)  IP Valuation
To assess the market potential of a company's core and emerging IPs and to determine an objective market value for development of licensing/franchising deals, M&A intentions as well as JV negotiations etc.

d) IP Training
To help companies undertake internal corporate conversion e.g. employee training on the IP protection and management of a company's product/service in relation to their overseas business portfolio.

e) IP Documentation
To help companies develop and implement their IP documentation to better manage their relationships with overseas business partners.

f) IP Corporate Governance and Policies
To help companies in the formulation and adoption of IP corporate polices in relation to their portfolio of overseas businesses.