IPOS releases two studies linking IP to good business performance
07 June 2023
On May 17, 2023, the Intellectual Property Office of Singapore (IPOS) released two studies that analyzed the link between intellectual property and business performance. The event took place in conjunction with the 2023 International Trademark Association’s (INTA) Annual Meeting Live+, held at the Marina Bay Sands & Convention Centre in Singapore from May 16 to 20, 2023.
Looking at the pool of Singapore’s largest businesses, the study titled “The Brands, Patents and Company Performance Study” found that businesses with strong brands and/or patent portfolios had about double the revenue, net profit and market capitalization compared with businesses without strong brands and/or patent portfolios.
On the other hand, the study titled “The Singapore IP and Firms’ Performance Study” found that in the past decade, Singapore enterprises with trademarks delivered more than 10 percent increase in profits compared to businesses without registered IP. In addition, businesses with both trademarks and patents delivered around two times more profits compared to businesses without registered IP.
Edwin Tong SC, Singapore’s minister for culture, community and youth, and second minister for law, who officiated the event, said: “Brands and IP help drive business performance and growth, especially in an increasingly competitive global marketplace where businesses need to differentiate themselves. We will continue to support businesses using their IP to grow in, from and through Singapore.”
INTA Annual Meeting Live+ featured a Singapore Pavilion at its Innovation Marketplace, a space for exhibitors, meetings and speed networking sessions, among many others. The Singapore Pavilion showcased 20 global and local enterprises that use Singapore as a global brand, business and IP hub. Among them were Procter & Gamble, Razer, Unilever, Ya Kun and Scanteak. These businesses tap on the city-state’s business-friendly environment, skilled labour market, robust physical and digital infrastructure, ASEAN connection and strong legal and IP regime for global expansion.
The event took place on the back of record trademark filings worldwide, which saw the value of the top 5,000 global brands jump from around US$11 trillion in 2020 to over US$12 trillion in 2022. This underscored the growing importance of brands as strategic IP assets and Singapore’s role as a global brand, business and IP hub.
Around 8,000 global thought and business leaders attended 2023 INTA Annual Meeting Live+.
- Asia IP