Philippines launches first online IP marketplace
On February 26 2015 the Intellectual Property Office of the Philippines (IPOPHIL) announced the launch of the first online IP marketplace in the Philippines through the IP Depot website. IP Depot is a digital platform which promotes IP assets for potential commercialisation opportunities. It was established to give owners of patented inventions, registered trademarks, copyright and industrial designs a forum to showcase their IP assets to the world.
The launch of the Philippines’ first online IP marketplace follows on the heels of similar initiatives in other countries, such as Denmark and Belgium.
IP Depot allows rights holders to promote their patented inventions, trademarks, copyright and industrial designs to potential buyers or licensees. The website provides a description of the IP asset and its business potential. In addition to showcasing IP assets, the website acts as a forum where individuals or companies may post technical problems and seek solutions from universities or other institutions that could result in partnerships or technical collaborations. Rights holders can promote their assets on IP Depot free of charge.
With the implementation of an online IP marketplace, IPOPHIL is promoting the commercialisation of IP assets and the creation of partnerships between Philippine rights holders and business entities. It is too early to tell whether IP Depot will result in further innovation and commercialisation of IP assets. At present, IP Depot promotes only a few IP assets in each category. In time, with additional promotion, IP Depot has the potential to become a robust marketplace, where innovation and business can meet to form partnerships that are mutually beneficial to rights holders and those seeking to buy or license IP assets.
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