Firms told to protect intellectual property assets

MANILA, Philippines - Businesses should protect and manage their intellectual property assets by registering their brands and licensing their innovations and inventions amid the deepening global recession, the Intellectual Property Office of the Philippines (IP Philippines) said. Exporters often realize the importance of protecting their intellectual property once they have missed the deadlines for application or their product or brand has been copied, IP Philippines director-general Adrian S. Cristobal, Jr. said. “With the impact of the financial crisis on our economy, businesses have to protect their intellectual property. They should also constantly innovate to stay in the game," Cristobal said during the IP Training Workshop for Chamber of Commerce and Business Support Institutions. As micro, small, and medium enterprises (MSMEs) account for 99.6 percent of the country's economy, Cristobal believed these sectors "play a crucial role in shaping the intellectual property policy of the country." “With increased competitiveness comes more investments and more jobs," he said. To promote intellectual property rights among MSMEs, the government has opened IP satellite offices in Cebu, Davao, Pampanga, and Legaspi. A fifth IP satellite office is set to open in Baguio next month. -GMANews.TV