Projects to generate and commercialize patented technologies will now enjoy incentives from government.
These activities have been added into the Board of Investments’ (BOI) 2020 Investment Priorities Plan (IPP).
Signed last Feb. 9, 2021 by Trade Undersecretary and BOI managing head Ceferino Rodolfo, BOI Memorandum Circular 2021-001 provides the implementing guidelines for the 2020 IPP, identified the commercialization of “uncommercialized patents” as one of the projects falling under the “Innovation Drivers” activity.
Uncommercialized patents refer to invention patents, utility models (UMs) or industrial designs (IDs) that have been granted patent or are registered at the intellectual Property Office of the Philippines (IPOPHL) but have not delivered economic returns, such as by means of a spin-off company, licensing or sale, among others.
The 2020 IPP also recognized Innovation and Technology Support Offices (ITSOs) as “Innovation Centers” or a community of entrepreneurs and researchers helping find breakthroughs and alternative solutions to address current industry challenges.
A university, college or research center that partners with IPOPHL, an ITSO offers access to patent and scientific and technical databases, assistance in using patent databases, training in patent claim drafting and advice on intellectual property (IP) management, among others.
