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General Status and Development Environment of IP Marketplace - A Singapore Perspective Shanghai International Intellectual Property Forum 2011 22 nd Nov.

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Presentation on theme: "General Status and Development Environment of IP Marketplace - A Singapore Perspective Shanghai International Intellectual Property Forum 2011 22 nd Nov."— Presentation transcript:

1 General Status and Development Environment of IP Marketplace - A Singapore Perspective Shanghai International Intellectual Property Forum nd Nov 2011 Eng Hann Lim, Ph.D. Director (Programs & Operations) IP Academy Singapore © 2011 IP Academy Singapore All rights reserved

2 Outline The IP Marketplace Facilitating Participation New Opportunities © 2011 IP Academy Singapore All rights reserved

3 Outline The IP Marketplace Facilitating Participation New Opportunities © 2011 IP Academy Singapore All rights reserved

4 The IP Marketplace - What is IP Marketplace ? “IP” - Intellectual Property – property (as an idea, invention, or process) that derives from the work of the mind or intellect * IP as an asset – non tangible, illiquid, value unknown till transacted, difficult linking buyers and sellers, value in the eye of beholder, lacked transparency in pricing and prolonged deal cycles “Marketplace” – i) an open square or place in a town where markets or public sales are held ii) the world of trade or economic activity iii) a sphere in which intangible values compete for acceptance * “IP” + “Marketplace”= IP Marketplace = {IP, place, platform, exchange} * Merriam-Webster Dictionary

5 The IP Marketplace - Evolution of IP Marketplace First statutes on authors' rights - Republic of Florence (1421) First patent institution of patent protection by the Venice Republic (1474) Statutes of Monopolies (1624) Statutes of Anne (1710) US First Patent Pool Sewing Machine Combination (1856) US Patent Act (1790) Europe’s Industrial Revolution (1760s -) America’s Industrial Revolution (1800s -) Defensive Cross- Licensing & Rise in IP Licensing (1980s) Industrialisation of Japan (late 1800s) Patent Monopoly Act 1885 MIP Magazine (1990) China - Industrialisation (1980 -) Patent Act Enacted (1984) PCT (1970) IP Online Exchange (Late 1990s) IP driven M&A ((1990s) Intellectual Ventures (2000) Japan Rising Sun Fund (2010-) IP based Securitization (1997) Open Innovation (2003 -) Technology Licensing Networks (2004 -) Bayh- Dole Act (1980 ) China Technology Exchange (2011 -) Korea Intellectual Discovery (2011 ) US IP Hedge Funds Launched (2008) First Live Patent Auction (2006 -) China IP Collaterization (2008 -) Multi Billion $ IP Deals Nortel, Motorola Mobility Patents ( IBM IP Licensing Unit (1993- Growth of P-LECs (2000 -) Rise of IP Activists (2010-) Shanghai Technology Exchange (2009-) 13K IP Disputes in China vs 10K in the US (2005) China M patent applications 2010 IP Auction Taiwan (2007) Rise of Privateers (2010-) Japan National IP Licensing Center (1997) Japan >1000 patent deals/year >13K deal since 1997 (Mid 1997 (2009) IP Intermediary Singapore (2011 ) Korea Launches Patent Fund (2007) Taiwan IP Bank (2011 -) IAM Magazine (2003) Age of Golden Rule & Rise of Asia Rise of the Intermediaries ITC (1930) Court of Appeal Federal Circuit (1982) Korea Industrialisation (1960s) Patent Law (1961) © 2011 IP Academy Singapore All rights reserved Ref. sources : 1) Moore, Adam, "Intellectual Property", The Stanford Encyclopedia of Philosophy (Summer 2011 Edition), Edward N. Zalta (ed.), 2) Raymond Millien & Ron Epstien, “State of IP Marketplace : An Executive Briefing” 24 th September ) others Development of IP Regime Feudal Lords Age

6 The IP Marketplace – IP Marketplace Business Models Market Quality High Low IP Market 1.0 IP Market 2.0 IP Market 3.0 Litigation Royalty Based Industry Licensing Defensive Cross Licensing Expansion Licensing IP based Financing P-LECs Public Auctions Patent Trolls Web Portals / Listings Activists Privateers IP Hedge Funds / Indexes Period of Feudal Lords Rise of the Intermediaries Age of Golden Rule Asian IP Services /Exchanges/Banks Unit License Rights (IPX) Ref. sources : James Malachowski – LES-AP Conference 9-11 Nov 2011 Raymond Millien & Ron Laurie, A Summary of Established & Emerging IP Business Models, The Sedona Conference, 2007 others Defensive use in Products and Services © 2011 IP Academy Singapore All rights reserved

7 The IP Marketplace – Global Size of IP Marketplace Data Source : Source : WIPO – Changing Face of Innovation, 2011 © 2011 IP Academy Singapore All rights reserved

8 Rapidly Evolving Global IP Marketplace Growing pool of IP intermediaries & IP Services players Patent and technology centric Underpin by litigation and/or threat of litigation Big players and US centric Big Money $$$ involved (~ $180B/year) Gaining the attention of fund managers IP conversations in the Boardrooms IP Marketplace growing in Europe IP Marketplace activities spreading to Asia The IP Marketplace - Observations on the Global IP Marketplace © 2011 IP Academy Singapore All rights reserved

9 Transformation of Singapore to an Innovation Economy The IP Marketplace - Singapore and the IP Marketplace Jscreationzs; freedigitalphotos.net 2010s Research, Innovation & Entrepreneurship Factor - Driven Efficiency - Driven Innovation - Driven “Innovation, enterprise and R&D, these are the ways to remake the economy” Mr Lee Hsien Loong, Prime Minister, Singapore National Day Rally Speech – August 21, 2005 © 2011 IP Academy Singapore All rights reserved

10 The IP Marketplace - Evolution of IP Marketplace in Singapore National Science & Technology Board Formed st S&T 5 Year Plan $2B Singapore Patents Act Nov 1994 Agency for Science and Technology 2002 $100M Creative vs Apple 2005/6 $388M Uniloc vs Microsoft (2010) Trek 2000 vs M-Systems (ThumbDrive) National Technology Marketplace Trials 2008 IP Intermediary Ltd 2011 Technology Transfer Network 2008 Nanyang Technology University Tech Transfer Office formed 2000 Polytechnic Tech Transfer Offices formed 2000 s- University Research Centers formed 1990s - Singapore IP Hub Strategy Formed 2002 IP Academy 2003 Research, Innovation and Entrepreneurship Council 2006 IPEXL Formed 2003 TransPacific IP 2004 Thomson Reuters 2000s - 5 th S&T Plan $16.1B for R&D Sept 2010 Trek 2000 vs Verbatim Out of Court Settlement / ITC Oct nd S&T 5 Year Plan $4B rd S&T 5 Year Plan $6B 4 th S&T 5 Year Plan $13.55B 2005 National University of Singapore Tech Transfer Office formed 1992 Intellectual Property Office of Singapore Formed 2001 Exploit Technologies Formed 2002/3 National Research Foundation Intellectual Ventures Asia 2007 © 2011 IP Academy Singapore All rights reserved Internationalising Companies faced with IP challenges IP Asia 2008/09

11 IP Intermediary (Singapore) © 2011 IP Academy Singapore All rights reserved

12 IP Intermediary (Singapore) © 2011 IP Academy Singapore All rights reserved

13 Intermediary Thrust © 2011 IP Academy Singapore All rights reserved

14 Network Thrust © 2011 IP Academy Singapore All rights reserved

15 IP Store Front © 2011 IP Academy Singapore All rights reserved

16 Technology Offer © 2011 IP Academy Singapore All rights reserved

17 Singapore & the IP Marketplace Use same timeline as Global IP marketplace and contrast in parallel to the development of IP marketplace in Singapore. Singapore licensing market is big - $7B As a business and trading hub, Singapore hosts over 7000 MNCs, which participates in the IP Marketplace out of Singapore. A number of the leading IP marketplayers are operating out of Singapore to cover the AP region; include Intellectual Ventures Asia, 360 IP, TransPacific IP Management Group and Thomson Reuters. There are also other IP traders and intermediaries such as : IPEXL, TYAN and IP Trade and etc. Locally evolved IP marketplayers includes Exploit Technologies, Tech transfers offices of Universities and Polytechnics. Key Player driving local IP Marketplace in Singapore – Exploit Technology and IP Intermediary (Singapore); Invention Portal © 2011 IP Academy Singapore All rights reserved

18 Global IP Marketplace Rapidly Evolving Marketplace Growing pool of IP intermediaries & IP Services players Patent and technology centric Underpin by litigation and/or threat of litigation Big players and US centric ……………….. Big Money $$$ involved ($180B/year) Gaining the attention of Wall Street - fund managers IP conversations in the Boardrooms Increasingly in Europe - IPcom Growing in Asia – China, Japan, Korea, Taiwan, Singapore The IP Marketplace - Observations IP Marketplace in Singapore Slow Evolving Marketplace Small pool of IP intermediaries & IP Services players Technology and Trade Secret centric Underpin by the need to be technology competitive Big US private players; local universities and government players Small Money $$$ involved ($10s to $100sK licensing deals) Gaining the attention of internationalizing companies IP still not a priority to C-level execs. Increasingly impact internationalizing companies © 2011 IP Academy Singapore All rights reserved

19 Outline The IP Marketplace Facilitating Participation New Opportunities © 2011 IP Academy Singapore All rights reserved

20 Facilitating the Participation in the IP Marketplace Essentials of a Vibrant IP Marketplace Vibrant IP Marketplace IP CreationIP Services IP Intermediary IP ProtectionCapital IP Value Recognition Must have IP Creation IP portfolios available for transactions Availability of a pool of IP service providers – patent ratings, search and analysis, valuation and etc. IP experts brokering between buyers and sellers IP professionals using the stick and/or carrot to extract value from IP on behalf of IP owners Robust IPR Protection and Enforcement Regime Rationalise IP regime and court system Punitive awards Availability of funds to invest for potential long term extra ordinary returns IP conversations in the boardroom IP in the view of investment bankers IP priority in the minds of CEOs IP as the basis of products and services offered Understands the value of IP in international trade and commerce © 2011 IP Academy Singapore All rights reserved

21 Facilitating the Participation in the IP Marketplace IP Marketplace Ecosystem in Singapore IP Marketplace in Singapore IP CreationIP Services IP Intermediary IP ProtectionCapital IP Value Recognition University, research insititute IP portfolios Open Innovation platforms available IP brokers exists Thomson Reuters, PatSnap, IPEXL IP Business Consultants IP Legal Consultants Lacking local expertise Exploit Technology University TTOs Polytechnics TTOs IP Intermediary (IV, TPIP etc) Lacking local IP experts Trusted Legal System Robust IPR Protection and Enforcement Regime Progressive Legal Regime Dedicated IP Court Singapore is a financial hub Venture fundings available Need professionals who can package IP into investment quality assets !!! IP is still not a priority to most local companies IP is not a purview in the Boardrooms of companies Lacked understanding on how to extract value from IP © 2011 IP Academy Singapore All rights reserved

22 Facilitating the Participation in the IP Marketplace IP Value Recognition Development IP Value Recognition Perception on the Value of Intangible Assets (IP) Capacity and capability In Managing IP Assets Investment Risks/Return © 2011 IP Academy Singapore All rights reserved

23 Facilitating the Participation in the IP Marketplace IP Value Recognition Development IP Value Recognition Perception on the Value of Intangible Assets (IP) Capacity and capability In Managing IP Assets Investment Risks/Return IP Management for SMEs Programme IP for Internationalisation Programme BrandPact Programme IP Management Training Programmes IP Services Sector Development Government Grants in IP Programmes IP tax incentives –Productivity Innovation Credits C – Level Outreach Highlight Successful IP Case Studies IP Training (IP Academy) © 2011 IP Academy Singapore All rights reserved

24 Shaping the IP Professional Development Landscape in Singapore Facilitating the Participation in the IP Marketplace IP Competency Framework © 2011 IP Academy Singapore All rights reserved

25 IP Practitioners / Employers Limited staff development opportunities Insufficient training for specific industry needs Lack of benchmark for staff appraisal & development New Entrants Inadequate information of job requirements & roles Training Providers Lack of recognised IP training standards Inconsistent programme quality. Challenges Facing Various Stakeholders Facilitating the Participation in the IP Marketplace IP Competency Framework © 2011 IP Academy Singapore All rights reserved

26 Objectives of the IP Competency Framework Articulate competencies for IP job functions Bridge gaps with relevant training programmes Define competency standards Develop training and assessment guides Propose suggested career roadmaps Provide recognition for competencies obtained. “Developed by the industry, for the industry” Facilitating the Participation in the IP Marketplace IP Competency Framework © 2011 IP Academy Singapore All rights reserved

27 Training Providers EmployersEmployers IP Practitioners / Employees IPOSIPOS  Professional development – to upgrade to higher positions or move to new job areas  Obtain certification that is recognised by industry.  Identify skill shortages  Assess employee competency levels  Bridge employee training gaps.  Develop programmes to meet industry needs. Potential Benefits for Stakeholders An industry-wide IP Competency Framework Increase pool of IP practitioners Raise quality of IP workforce & training providers Facilitating the Participation in the IP Marketplace IP Competency Framework © 2011 IP Academy Singapore All rights reserved

28 IP Competency Framework – Key Occupations & Occupation Levels Occupation Map Level 3 Level 2 Level 1 CU1CU1CU2CU2CU3CU3CU9CU9 … CU1CU1CU2CU2CU3CU3CU22CU22 … CU43CU43 … CU1CU1CU2CU2CU3CU3 Operations (e.g. IP Administrator) Operations Management (e.g. Tech Transfer Manager) Management Expert –Technical (e.g. Patent Agent) Expert –Technical (e.g. Patent Agent) Executive (e.g. IP Engineer) Executive Elective Units Facilitating the Participation in the IP Marketplace IP Competency Framework © 2011 IP Academy Singapore All rights reserved

29 Map of IP Competency Units vs IP Occupations – Example GroupCompetency Unit Expert- Technical ManagementExecutiveOperations Intellectual Property Protection Understand the Legal System in Singapore  Understand the Fundamentals of IP Rights  Understand IP in the Global Context  Understand the Anatomy of Patents  Understand Patent Practice in Singapore  Handle Patent Office Actions  Understand Trade Mark Practice in Singapore  Understand Registered Design Practice in Singapore  Understand Copyright Practice in Singapore  Facilitating the Participation in the IP Marketplace IP Competency Framework © 2011 IP Academy Singapore All rights reserved

30 Outline The IP Marketplace Facilitating Participation New Opportunities © 2011 IP Academy Singapore All rights reserved

31 New Business Models that are more efficient and sustainable – carrot licensing and/or mix thereof – network of IP/technology exchanges How about Intellectual Assets and Intellectual Capitals ? – IP Collateralization of Technology, Know-How, Brands, Trade Secret, Reputation and etc. – IP funding for Start-Ups and SMEs to raise funds – IP securitization of successful businesses with no register-able IP – etc Growing IP Services sector in Asia – Demand for IP professionals/intermediary services growing rapidly Growing IP Consultants/Professionals Training needs in Asia – to extend beyond individual traditional expertise silos of legal, finance, taxation, technology, analytics, business, investment and etc Public Sector IP – University, Research Institutes, Government Agencies, and etc. New Opportunities in Asia IP Marketplace Leveraging on the Uniqueness of Asia © 2011 IP Academy Singapore All rights reserved

32 Key Takeaways A rapidly evolving IP Marketplace has emerged globally Attracting attention at Boardrooms and Wall Street Evolving IP Marketplace growing rapidly in Asia Lack of IP value recognition and capacity to fully leverage on the value of IP posing a challenge in Asia Executive IP education and training are key to increased participation in the IP Marketplace for Asia Exciting new opportunities have arisen from the evolving IP Marketplace in Asia, and globally © 2011 IP Academy Singapore All rights reserved


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