Businessmen advised to register products at IPO
Exporters are advised anew to protect their intellectual property (IP) to boost the value of goods and services, and gain strong market position and competitive advantage.
“They say that copying is a form of flattery but in the case of IP, let’s make sure that you protect and benefit from the intellectual property you worked hard for,” Department Trade and Industry-Export Marketing Bureau Officer-in-Charge Assistant Director Bianca Pearl Sykimte said during the Usapang Exports.
She shared the outcome of a recent trade mission to the Middle East where a lot of Philippine products were doing well in the mainstream market from budget friendly grocery chains to upscale ones.
However, Sykimte said there were a lot of trademark infringements of known Filipino brands and confusingly similar trademarks of Filipino brands.
Maria Minda del Rio, chief at Intellectual Property and Communications Division of the Intellectual Property (IPO) Office of the Philippines, highlighted the importance of IP in exports or imports.
Del Rio said it generates income from licensing or selling, boosts asset and proprietorship, creates bargaining power, and enhances ability to acquire finance at reasonable rates of interest.
She said IP assets credibly take action against imitators and generate higher profits.
Del Rio further said kinds of IP assets include copyright and other related rights, trademarks and service marks, geographical indications, industrial design, utility model, patents, layout designs of integrated circuits, and trade secrets.
“Intellectual property registration should be done even before you commercialize, even before you file for a business permit, even before you apply for any food and drug certification,” she added.
She said trademark as a business tool creates association with the product and builds reputation. – Press release