Recognising that its latest innovation was essential in the COVID-19 pandemic and beyond, homegrown cleaning solutions company Speco Singapore Pte Ltd worked with IPOS International to uncover its intangible assets and safeguard its competitive edge.
Even after you have created a successful brand, it can take some time and experimentation to work out how best to use it. Shirt and suit brand Benjamin Barker has refined its brand presentation and promise through continuous experimentation and customer feedback.
Licensing your IP to someone else allows you to make your IP work harder for you. National Skin Centre (NSC) of Singapore realised these benefits by concluding a licence agreement with an experienced partner, Good Pharma Dermatology (GPD), for an anti-itch cream for eczema sufferers.
Licensing and franchising are highly effective ways to monetise IP for most companies. In fact, both of these approaches can even be used in tandem to achieve even greater business outcomes, as the rapid growth of Singapore’s I Can Read programme demonstrates.
Many different IP-related transactions can have tax implications—from buying and selling businesses to moving assets around within companies. As Chris Huang formerly from Colin Ng and Partners (CNP) explains, the key is not to let tax drive business decisions but to inform them, and avoid unpleasant surprises.
Tax rules concerning intellectual property (IP) investments, and the level of deductions that can be claimed, have been changed and updated in recent years. EY Asean International Tax Services Leader, Chester Wee, summarises how companies should access existing tax perks to help optimise their tax positions.
Patenting is often the best way to protect an invention. But it takes time and money to build a patent portfolio that can facilitate and safeguard international expansion. KaHa, a homegrown Smart Wearables IoT platform company, is using Singapore’s tax deductions on IP investment to help make this more affordable.
3-D printing is currently one of the ‘hottest’ areas of technology. In such a fast-moving and highly competitive market, making sure that your inventions are properly protected is essential to give investors confidence that you can commercialise them successfully, as Structo’s experience demonstrates.
Commercialising a new technology is an expensive and potentially risky business. Typically, it will need to be financed using equity (sale of shares) rather than debt (such as bank borrowing). 2D Materials, an NUS spin-out, shares its experiences in presenting its IP to investors.
When enterprises need to raise money to bring their ideas to market, the ability to quantify and communicate the value of their intellectual property is an important negotiating aid. This is even more important for companies that are yet to generate significant revenue streams, as OTSAW’s experience demonstrates.
A website is a company's digital “shop window”, and intrinsically linked to business success. But what can a business do in terms of loss of sales and hard-earned reputation against infringers? igloohome shares their experience on tackling copycats and what to do to quickly address such issues before a loss of goodwill or revenue.
Startups often view registering IP rights to be costly and are tempted to ‘put it off’. However, going public with your idea or product can be detrimental if someone steals it before you can protect it. Hegen’s experiences demonstrate how crucial it is for young companies to protect their IP to fight off copycats.
One key challenge that businesses face when innovating is to ensure their ideas are original – something PatSnap’s services help to determine. Besides providing data to keep others out of trouble, the company’s own strategies in dealing with imitators and adapting its branding provide insights into effective IP risk management.
What happens if your industry evolves so quickly that your business may soon become unsustainable or redundant? Learn how ERS Industries, a local SME, collaborates with technology partners to speed up its innovation cycle, develop new products, and protect them against infringers.
By actively innovating in-house and via collaborations with academic and industrial partners to produce new products and services, local technical glass manufacturer Wangi Industrial is able to expand their company’s portfolio and strengthening its future revenue streams.
Given Singapore’s high population density and fondness for tall buildings, it is perhaps not surprising that a local company Sky Greens is in the forefront of ‘vertical farming’ – providing solutions that allow crops to be grown upwards, rather than sideways.
Franchisees often have to rely on other companies to provide and protect all the IP rights they need to trade successfully – but one well-known Singapore franchise, Snapkis, has decided to take a different path to grow and diversify its business.
Like many other firms in Singapore, Mr Joseph Lum, Managing Director of NSP Tech, has a background in contract manufacturing for multinational corporations. Now, he runs an IP-led, product-based business and his main priority is to make sure no one had already used his approach before.
Given the intense global competition in the payment and fintech space, patenting a software solution for payment was never likely to be a straightforward process. Liquid Group shares their journey navigating international expansion, through a careful IP and brand strategy.
As a newly listed life sciences company, it was important for Invitrocue to disclose and convey the value of its intellectual property to its investors. Recognising the value of their intangible assets also greatly helped with internal decision-making and strategy development to take their business further.
Having spotted a dearth of service providers for hairdressers and hair salons using new 3D technology, local startup Gamurai seized this opportunity by in-licensing an external technology solution to get the innovation to market quickly, effectively capitalising on a first mover advantage.
Despite being only a startup, DynaOptics knew that its intellectual property strategy would be a key driver of its future success. To safeguard its core technology, they prioritised international patent protection measures and implemented a robust trade mark strategy.
Having just restructured itself from an electrical repair shop into an integrated group of engineering companies, Cyclect leveraged this time to also review its core intellectual property – to find ways to capture more business opportunities and drive growth.
As an award-winning company using a technology and intellectual property-driven strategy to transform its business and its industry, Concorde Security discusses the process of expanding its activities internationally, with a focus on South East Asia, Europe and the USA.
The Chinese market for herbal medicine is expected to grow to US $160 billion by 2020. While a lot of money has been expended on investigating traditional medicines, the scientific evidence behind the active components of these remedies remain a mystery – something which ChemoPower’s technology can change.
First launched locally in 2012, this ‘foodie friend’ app helps consumers discover hidden gems, whether it’s suggestions for a romantic meal out or the latest hawker sensation. Clocking 3 million reviews and 5.5 million visits by 2016, Burpple moved to monetise its innovation and expand overseas, leveraging its intellectual property.
Biotechnology startup Biosensorix has a mission that is easy to explain, but difficult to achieve – to take diagnostics, screening and monitoring out of the laboratory and into the point of care. With the help of a strong patent portfolio to secure investor financing, the company continues to make strides in advancing healthcare today.
Intellectual property rights are often the key to sales and growth – and it’s not just about the money; it’s also about freedom, integrity and control. By actively collaborating with others while taking a proactive approach to IP rights management, international expansion is just one of the many possibilities for Awfully Chocolate.