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General Status and Development Environment of IP Marketplace
- A Singapore Perspective
Shanghai International Intellectual Property Forum 2011 22nd Nov 2011
Eng Hann Lim, Ph.D.Director (Programs & Operations)IP Academy Singapore
© 2011 IP Academy Singapore All rights reserved
Outline
• The IP Marketplace• Facilitating Participation• New Opportunities
© 2011 IP Academy Singapore All rights reserved
Outline
• The IP Marketplace• Facilitating Participation• New Opportunities
© 2011 IP Academy Singapore All rights reserved
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 heldii) the world of trade or economic activityiii) a sphere in which intangible values compete for acceptance*
“IP” + “Marketplace”= IP Marketplace = {IP, place, platform, exchange}
*Merriam-Webster Dictionary
The IP Marketplace -
Evolution of IP Marketplace
1400
2011
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 OnlineExchange(Late 1990s)
IP driven M&A((1990s)
IntellectualVentures (2000)
Japan Rising Sun Fund(2010-)
IP basedSecuritization (1997)
Open Innovation(2003 -)
Technology Licensing Networks(2004 -)
Bayh-Dole
Act(1980 )
China Technology Exchange(2011 -)
KoreaIntellectual Discovery(2011 )
USIP Hedge Funds Launched(2008)
First Live Patent Auction(2006 -)
ChinaIP
Collaterization(2008 -)
Multi Billion $ IP Deals
Nortel, Motorola Mobility Patents
(2011-1600 1700 18001900
19601980 1990
20002003
20052007 2008 2009
2010
IBMIP LicensingUnit(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 -
1.22M patent
applications2010
IP AuctionTaiwan(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)
TaiwanIP Bank(2011 -)
IAMMagazine (2003)
Age of Golden Rule & Rise of AsiaRise 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 20093) others
Development of IP Regime Feudal Lords Age
The IP Marketplace –
Global Size of IP Marketplace
Data Source : Source : WIPO – Changing Face of Innovation, 2011
1970 1980 1990 2000 2009$0
$20
$40
$60
$80
$100
$120
$140
$160
$180
$200
1970; RLF $B; $2.81980; RLF $B; $10.0
1990; RLF $B; $27.0
2000; RLF $B; $80.0
2009; RLF $B; $180.0
Worldwide IP Licensing Revenues ($Billion)
© 2011 IP Academy Singapore All rights reserved
• 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
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
The IP Marketplace -
Evolution of IP Marketplace in Singapore
1990
2011
National Science & Technology Board Formed1991
1st S&T 5 Year Plan$2B
Singapore Patents ActNov 1994
Agency for Science and Technology 2002
$100MCreative vs Apple2005/6
$388MUniloc vs Microsoft (2010)
Trek 2000 vs M-Systems
(ThumbDrive)
National Technology
Marketplace Trials2008
IP Intermediary Ltd2011
Technology Transfer
Network2008
Nanyang Technology University Tech Transfer Office formed2000
Polytechnic Tech Transfer Offices formed2000s-
University Research Centers formed1990s -
Singapore IP Hub Strategy Formed 2002
IP Academy 2003
Research, Innovation and Entrepreneurship Council2006
IPEXLFormed 2003
TransPacific IP2004
Thomson Reuters2000s -
5th S&T Plan$16.1B for
R&D 2010-15
Sept 2010
Trek 2000 vs Verbatim
Out of Court Settlement /
ITCOct 2011
2nd S&T 5 Year Plan$4B
19952000
2005
3rd S&T 5 Year Plan$6B
4th S&T 5 Year Plan
$13.55B2005
National University of Singapore Tech Transfer Office formed1992
Intellectual Property Office of SingaporeFormed2001
Exploit Technologies Formed2002/3
National Research Foundation2006
2003
20072009
Intellectual Ventures Asia2007
© 2011 IP Academy Singapore All rights reserved
Internationalising Companies faced with IP challenges2008 -
360IP Asia2008/09
IP Intermediary (Singapore)
© 2011 IP Academy Singapore All rights reserved
IP Intermediary (Singapore)
© 2011 IP Academy Singapore All rights reserved
Intermediary Thrust
© 2011 IP Academy Singapore All rights reserved© 2011 IP Academy Singapore All rights reserved
Network Thrust
© 2011 IP Academy Singapore All rights reserved
IP Store Front
© 2011 IP Academy Singapore All rights reserved
Technology Offer
© 2011 IP Academy Singapore All rights reserved
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 -
ObservationsIP 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
Outline
• The IP Marketplace• Facilitating Participation• New Opportunities
© 2011 IP Academy Singapore All rights reserved
Facilitating the Participation in the IP Marketplace
Essentials of a Vibrant IP Marketplace
Vibrant IP Marketplace
IP Creation
IP Services
IP Intermediary
IP Protection
Capital
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
Facilitating the Participation in the IP Marketplace
IP Marketplace Ecosystem in Singapore
IP Marketplacein Singapore
IP Creation
IP Services
IP Intermediary
IP Protection
Capital
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
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
AssetsInvestment
Risks/Return
© 2011 IP Academy Singapore All rights reserved
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
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
• 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
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
Training Providers
EmployersIP
Practitioners / Employees
IPOS
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
IP Competency Framework – Key Occupations & Occupation LevelsOccupation Map
Level 3
Level 2
Level 1 CU1
CU2
CU3
CU9…
CU1
CU2
CU3
CU22…
CU43…
CU1
CU2
CU3
Operations(e.g. IP Administrator)
Management(e.g. Tech Transfer
Manager)
Expert –Technical(e.g. Patent Agent)
Executive(e.g. IP Engineer)
Elective Units
Facilitating the Participation in the IP Marketplace
IP Competency Framework
© 2011 IP Academy Singapore All rights reserved
Map of IP Competency Units vs IP Occupations – Example
Group Competency Unit Expert-Technical Management Executive Operations
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
Outline
• The IP Marketplace• Facilitating Participation• New Opportunities
© 2011 IP Academy Singapore All rights reserved
• 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
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