Gov’t to launch IP valuation service in 2025
The Intellectual Property of the Philippines (IPOPHL) plans to launch an intellectual property (IP) value assessment service next year, which will help owners obtain commercial price for such assets.
“Hopefully by the middle of next year,” IPOPHL director general Rowel Barba told reporters last week, when asked when the service would become available.
He added that the value assessment service would be a big help for owners looking to sell their IPs overseas.
“Our immediate (priority) is to capacitate the IPOPHL on how to value intellectual property,” he said.
Barba said that the measure would also help owners with financing, citing that IP could be used as collateral when borrowing from banks once commercial value has been properly assessed.
The IPOPHL chief lamented that IPs are considered as “intangible assets” but not accepted as bank collateral in the country.
“So far, the most advanced countries (using this practice) are Japan, Korea and Canada,” he said.
Barba said such services would be helpful, in particular, to local game developers who were looking to sell their games overseas.
“They would ask me how much they should sell their games. I have no answer to give them,” he said.
IP registrations filed at the IPOPHL reached 49,832 in 2023, indicating a growth of 2.5 percent compared with 48,600 recorded in 2022.
The IPOPHL earlier said it had received 21,751 trademark applications during the first half of the year, marking a 7-percent growth compared with the 20,394 filings made a year ago.
Trademark registrations from the pharmaceutical sector, as well as in agriculture and scientific research information and communication, topped the filings during the period.
This year, the IPOPHL is aiming for a 10-percent increase from the volume of filings in 2023.
