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IPOPHL Partners with Licensing Society to Further Market Reach of Innovations

07-Dec-2020 | Source : The Intellectual Property Office of the Philippines (IPOPHL) | Visits : 1524
TAGUIG - The Intellectual Property Office of the Philippines (IPOPHL) announced in a press release that it signed on November 26, 2020 a memorandum of agreement (MOA) with the Licensing Executives Society Philippines (LESP) to promote licensing of intellectual property (IP).

LESP is the local society of Licensing Executive Society International (LESI), a global federation of 33 national and regional societies of professionals involved and interested in licensing, technology transfer, technology development, protection and valuation of IP, information technology, e-commerce, franchising and distribution, among others.

Under the MOA, IPOPHL and LESP will jointly organize a certificate program for advanced learning on IP licensing in the Philippines, with the end-goal of helping inventor-investor partners create a win-win licensing agreement. 

LESP also commits to support and contribute to IPOPHL’s initiatives of rolling out a regular IP journal; on research initiatives on IP and innovation; and in promoting IP  within and beyond its circle.

In addition, LESP’s foreign connections, through its umbrella organization, LESI, can help IPOPHL work closely with its peers in the international community. 

“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,” IPOPHL Director General Rowel S. Barba.

For her part, LESP Board Director Patricia A.O. Bunye said that by cooperating with and supporting IPOPHL, “LESP not only advances the business of IP but also contributes to a larger national development agenda through IP.”

Benefits of IP licensing  

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 markets, bridging them to more people who may benefit from them. 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.

“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,” Barba added.

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