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Managing Intellectual Property – An Asset for Your Enterprise
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Businesses need to have significant competitive advantages as they battle and operate in their respective industry spaces in different parts of the globe. Some firms start their intellectual property management earlier while others see its importance when the company has gained a fair share of growth.
Whichever the case, be it start-ups, SMEs or even larger firms are increasingly becoming more aware of the importance and value of intellectual property for their businesses. Look at what some of these IP-savvy companies have to share.
Trek 2000
A local firm that pioneered the invention of ThumbDriveTM, Trek 2000 obtained legal protection for its innovation. Trek's investments and management towards its IP started as early as 2000. Their expanding library of IP reflects their commitment and their belief in the value of their assets.
"Today, we own more than 40 patents across the world making us one of the few Singapore R&D companies that has the knowledge and competencies to manage this relatively new area of business. Our investments over the years are now yielding benefits.
Singapore is one of the few countries in the region that has cultivated a high level of respect for IP. Nonetheless, IP ownership is still a relatively new concept for many in this part of the world. The resources needed to develop IP can be very challenging, especially smaller companies with limited resources. At the end of the day, there is no right or wrong time to start IP ownerships. The key lies in the implementation and commitment to bring the idea to reality.
To new entrants, I would encourage them to approach companies with ready IP system in place. This will help lower the costs of IP ownership and avoid the need to reinvent the wheel. Ultimately, partnership is one of the most efficient way through which small companies with great ideas can enter the world of IP."
Henn Tan, Chairman and CEO of Trek 2000 International Ltd
www.trek2000.com.sg
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Stikfas
A home-grown toy company that has made an impact on the global toy industry, Stikfas knows that the future health of the business comes from its creative ideas.
"The very backbone of our business in IP. When we create a new product, we first put our money into protecting the IP before anything else, including manufacturing and marketing. IP management works hand-in-hand with our business strategies."
Banh Yinh Jeow, Founder and Chairman of Stikfas
www.stikfas.com
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The Organization of Amateur Asian Golfers (OAAG)
OAAG provides its members with the choice if playing at over 6500 golf clubs around the world, yet it does not own any golfing greens. Its major IP asset lies in its confidential information.
"The way we build up relationships with private golf clubs is kept as a trade secret as it takes a great deal of effort for us to get our members into these clubs without having to pay membership fees. ," said. "We will focus on protecting our IP more vigorously, especially as we are branching into new international territories."
Nicklaus D'Cruz, Founder and CEO of OAAG
www.oaag.com
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Old Chang Kee
"We have learnt much from the process of IP diagnosis, it is like a health check. Old Chang Kee is unique because we have a team that understands and properly manages our important IP assets. Creating and owning IP builds long-term value for our company and its shareholders."
Han Keen Juan, Chairman of Old Chang Kee
“What is important for us next is to put our knowledge into action because what you do with your IP makes the difference. We will work closely with our team and IP advisors to develop and protect our IP capability, and to transfer IP know-how and concepts to our people so that we can grow using our IP.”
William Lim, CEO of Old Chang Kee
www.oldchangkee.com
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