WIPO DG Daren Tang: addressing IP and intangible assets valuation and collateralisation issues a global priority
25 Mar 2021
IP and intangible assets are a “dominant asset class” in industrialised countries, and will soon be globally as well, Daren Tang, Director General of the World Intellectual Property Organisation (WIPO), said yesterday.
He committed WIPO to working with a range of partners worldwide to address the rise of intangible assets as drivers of the modern economy.
Tang was speaking at the online launch of the Global Innovation Policy Center IP Index 2021 in Washington, DC, where he called on the GIPC and its parent body, the US Chamber of Commerce, to help WIPO deliver against three key strategic objectives.
First was to help WIPO improve its services with feedback; second, “as the voice of corporate America”, is to continue to promote IP with policy makers but even more importantly to engage with ordinary people and explain how IP is connected and relevant to their everyday lives. “This is especially important for youth, who are the future innovators and creators and who are especially comfortable with the digital world and with technology. This generation needs to see IP as part of their lives, as an enabler for their aspirations and as part of the future.”
The rise of intangible assets
The third objective, which he said was longer term but “no less strategic in importance, is our collective efforts to address the rise of intangible assets. These assets, not just registrable IP but also trade secrets, data, know how, etc, have emerged in industrialised economies as a dominant asset class in domestic economies and in time to come will also dominate the global economy.”
Tang cited the latest research suggesting that the value globally of intangible assets amounts to US$20 trillion, “which is about the size of the US economy.” He also referenced a 2013 WIPO World IP Report which estimated that the investment in branding amounted to US$240 billion a year. Finally, he said, a 2017 WIPO study “showed that intangible capital accounts for twice the value of manufacturing production than traditional tangible capital.”
But, he added, “we have a challenge on our hands. We don't quite know how to value these assets, or how to collateralise them. And we barely understand impact in connection to the larger economy, such as finance and trade. This is a gap, and one that we must turn our minds to.”
He concluded: “WIPO therefore intends to work with other stakeholders, including UN agencies and other international organisations, IP offices and government agencies, think tanks and NGOs, to address this issue.”
GIPC Global IP Index 2021: Recovery Through Ingenuity
The ninth annual U.S. Chamber Global Innovation Policy Center International IP Index evaluates IP rights in 53 global economies across 50 unique indicators — from patent and copyright policies to commercialization of IP assets and ratification of international treaties.
The Index illustrates that economies with the most effective intellectual property (IP) frameworks are more likely to achieve the socio-economic benefits needed to face our biggest challenges, like COVID-19.
This year’s report is titled ‘Recovery Through Ingenuity’, and makes a robust case for how innovation and IP policy have worked together to respond to the COVID-19 crisis.
However, it notes that some of the countries in the report “took steps to undermine the framework that successfully enabled coronavirus-related innovation” including compulsory licensing of vaccine IP and calls for the waiving of IP rights on COVID-19 related medicines, devices and technologies.
US leads the IP pack overall: but Australia and Israel tie for IP commercialisation
Overall, the country which scored the highest on average across all the indicators was the US, at 95.31. The UK came second, with 93.9, followed by Germany, France, Japan, Sweden and the Netherlands, all scoring over 90.
From the IP valuation and commercialisation point of view, the figures, however, reveal a slightly different story.
Highest scoring countries for this indicator are Australia and Israel, tied on 95.83. Close behind is the US, with 94.5, and then Singapore, Switzerland and the United Kingdom, all on 91.67.
The report notes: “Many of the economies benchmarked in the Index have introduced policies that limit market access or commercialization of IP assets, with an average score of 59.42% in this category.”
The report points out that economies with effective IP systems are 38% more likely to attract venture capital and private equity.
The full report can be downloaded here.
Inngot has worked closely with national IP offices, government agencies and NGOs to research IP and intangible assets valuation and collateralisation around the world. See our research page.
Daren Tang picture © WIPO. Photo: Emmanuel Berrod. This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 IGO License.
IP and intangible assets are a “dominant asset class” in industrialised countries, and will soon be globally as well, Daren Tang, Director General of the World Intellectual Property Organisation (WIPO), said yesterday.
He committed WIPO to working with a range of partners worldwide to address the rise of intangible assets as drivers of the modern economy.
Tang was speaking at the online launch of the Global Innovation Policy Center IP Index 2021 in Washington, DC, where he called on the GIPC and its parent body, the US Chamber of Commerce, to help WIPO deliver against three key strategic objectives.
First was to help WIPO improve its services with feedback; second, “as the voice of corporate America”, is to continue to promote IP with policy makers but even more importantly to engage with ordinary people and explain how IP is connected and relevant to their everyday lives. “This is especially important for youth, who are the future innovators and creators and who are especially comfortable with the digital world and with technology. This generation needs to see IP as part of their lives, as an enabler for their aspirations and as part of the future.”
The rise of intangible assets
The third objective, which he said was longer term but “no less strategic in importance, is our collective efforts to address the rise of intangible assets. These assets, not just registrable IP but also trade secrets, data, know how, etc, have emerged in industrialised economies as a dominant asset class in domestic economies and in time to come will also dominate the global economy.”
Tang cited the latest research suggesting that the value globally of intangible assets amounts to US$20 trillion, “which is about the size of the US economy.” He also referenced a 2013 WIPO World IP Report which estimated that the investment in branding amounted to US$240 billion a year. Finally, he said, a 2017 WIPO study “showed that intangible capital accounts for twice the value of manufacturing production than traditional tangible capital.”
But, he added, “we have a challenge on our hands. We don't quite know how to value these assets, or how to collateralise them. And we barely understand impact in connection to the larger economy, such as finance and trade. This is a gap, and one that we must turn our minds to.”
He concluded: “WIPO therefore intends to work with other stakeholders, including UN agencies and other international organisations, IP offices and government agencies, think tanks and NGOs, to address this issue.”
GIPC Global IP Index 2021: Recovery Through Ingenuity
The ninth annual U.S. Chamber Global Innovation Policy Center International IP Index evaluates IP rights in 53 global economies across 50 unique indicators — from patent and copyright policies to commercialization of IP assets and ratification of international treaties.
The Index illustrates that economies with the most effective intellectual property (IP) frameworks are more likely to achieve the socio-economic benefits needed to face our biggest challenges, like COVID-19.
This year’s report is titled ‘Recovery Through Ingenuity’, and makes a robust case for how innovation and IP policy have worked together to respond to the COVID-19 crisis.
However, it notes that some of the countries in the report “took steps to undermine the framework that successfully enabled coronavirus-related innovation” including compulsory licensing of vaccine IP and calls for the waiving of IP rights on COVID-19 related medicines, devices and technologies.
US leads the IP pack overall: but Australia and Israel tie for IP commercialisation
Overall, the country which scored the highest on average across all the indicators was the US, at 95.31. The UK came second, with 93.9, followed by Germany, France, Japan, Sweden and the Netherlands, all scoring over 90.
From the IP valuation and commercialisation point of view, the figures, however, reveal a slightly different story.
Highest scoring countries for this indicator are Australia and Israel, tied on 95.83. Close behind is the US, with 94.5, and then Singapore, Switzerland and the United Kingdom, all on 91.67.
The report notes: “Many of the economies benchmarked in the Index have introduced policies that limit market access or commercialization of IP assets, with an average score of 59.42% in this category.”
The report points out that economies with effective IP systems are 38% more likely to attract venture capital and private equity.
The full report can be downloaded here.
Inngot has worked closely with national IP offices, government agencies and NGOs to research IP and intangible assets valuation and collateralisation around the world. See our research page.
Daren Tang picture © WIPO. Photo: Emmanuel Berrod. This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 IGO License.
IP and intangible assets are a “dominant asset class” in industrialised countries, and will soon be globally as well, Daren Tang, Director General of the World Intellectual Property Organisation (WIPO), said yesterday.
He committed WIPO to working with a range of partners worldwide to address the rise of intangible assets as drivers of the modern economy.
Tang was speaking at the online launch of the Global Innovation Policy Center IP Index 2021 in Washington, DC, where he called on the GIPC and its parent body, the US Chamber of Commerce, to help WIPO deliver against three key strategic objectives.
First was to help WIPO improve its services with feedback; second, “as the voice of corporate America”, is to continue to promote IP with policy makers but even more importantly to engage with ordinary people and explain how IP is connected and relevant to their everyday lives. “This is especially important for youth, who are the future innovators and creators and who are especially comfortable with the digital world and with technology. This generation needs to see IP as part of their lives, as an enabler for their aspirations and as part of the future.”
The rise of intangible assets
The third objective, which he said was longer term but “no less strategic in importance, is our collective efforts to address the rise of intangible assets. These assets, not just registrable IP but also trade secrets, data, know how, etc, have emerged in industrialised economies as a dominant asset class in domestic economies and in time to come will also dominate the global economy.”
Tang cited the latest research suggesting that the value globally of intangible assets amounts to US$20 trillion, “which is about the size of the US economy.” He also referenced a 2013 WIPO World IP Report which estimated that the investment in branding amounted to US$240 billion a year. Finally, he said, a 2017 WIPO study “showed that intangible capital accounts for twice the value of manufacturing production than traditional tangible capital.”
But, he added, “we have a challenge on our hands. We don't quite know how to value these assets, or how to collateralise them. And we barely understand impact in connection to the larger economy, such as finance and trade. This is a gap, and one that we must turn our minds to.”
He concluded: “WIPO therefore intends to work with other stakeholders, including UN agencies and other international organisations, IP offices and government agencies, think tanks and NGOs, to address this issue.”
GIPC Global IP Index 2021: Recovery Through Ingenuity
The ninth annual U.S. Chamber Global Innovation Policy Center International IP Index evaluates IP rights in 53 global economies across 50 unique indicators — from patent and copyright policies to commercialization of IP assets and ratification of international treaties.
The Index illustrates that economies with the most effective intellectual property (IP) frameworks are more likely to achieve the socio-economic benefits needed to face our biggest challenges, like COVID-19.
This year’s report is titled ‘Recovery Through Ingenuity’, and makes a robust case for how innovation and IP policy have worked together to respond to the COVID-19 crisis.
However, it notes that some of the countries in the report “took steps to undermine the framework that successfully enabled coronavirus-related innovation” including compulsory licensing of vaccine IP and calls for the waiving of IP rights on COVID-19 related medicines, devices and technologies.
US leads the IP pack overall: but Australia and Israel tie for IP commercialisation
Overall, the country which scored the highest on average across all the indicators was the US, at 95.31. The UK came second, with 93.9, followed by Germany, France, Japan, Sweden and the Netherlands, all scoring over 90.
From the IP valuation and commercialisation point of view, the figures, however, reveal a slightly different story.
Highest scoring countries for this indicator are Australia and Israel, tied on 95.83. Close behind is the US, with 94.5, and then Singapore, Switzerland and the United Kingdom, all on 91.67.
The report notes: “Many of the economies benchmarked in the Index have introduced policies that limit market access or commercialization of IP assets, with an average score of 59.42% in this category.”
The report points out that economies with effective IP systems are 38% more likely to attract venture capital and private equity.
The full report can be downloaded here.
Inngot has worked closely with national IP offices, government agencies and NGOs to research IP and intangible assets valuation and collateralisation around the world. See our research page.
Daren Tang picture © WIPO. Photo: Emmanuel Berrod. This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 IGO License.
IP and intangible assets are a “dominant asset class” in industrialised countries, and will soon be globally as well, Daren Tang, Director General of the World Intellectual Property Organisation (WIPO), said yesterday.
He committed WIPO to working with a range of partners worldwide to address the rise of intangible assets as drivers of the modern economy.
Tang was speaking at the online launch of the Global Innovation Policy Center IP Index 2021 in Washington, DC, where he called on the GIPC and its parent body, the US Chamber of Commerce, to help WIPO deliver against three key strategic objectives.
First was to help WIPO improve its services with feedback; second, “as the voice of corporate America”, is to continue to promote IP with policy makers but even more importantly to engage with ordinary people and explain how IP is connected and relevant to their everyday lives. “This is especially important for youth, who are the future innovators and creators and who are especially comfortable with the digital world and with technology. This generation needs to see IP as part of their lives, as an enabler for their aspirations and as part of the future.”
The rise of intangible assets
The third objective, which he said was longer term but “no less strategic in importance, is our collective efforts to address the rise of intangible assets. These assets, not just registrable IP but also trade secrets, data, know how, etc, have emerged in industrialised economies as a dominant asset class in domestic economies and in time to come will also dominate the global economy.”
Tang cited the latest research suggesting that the value globally of intangible assets amounts to US$20 trillion, “which is about the size of the US economy.” He also referenced a 2013 WIPO World IP Report which estimated that the investment in branding amounted to US$240 billion a year. Finally, he said, a 2017 WIPO study “showed that intangible capital accounts for twice the value of manufacturing production than traditional tangible capital.”
But, he added, “we have a challenge on our hands. We don't quite know how to value these assets, or how to collateralise them. And we barely understand impact in connection to the larger economy, such as finance and trade. This is a gap, and one that we must turn our minds to.”
He concluded: “WIPO therefore intends to work with other stakeholders, including UN agencies and other international organisations, IP offices and government agencies, think tanks and NGOs, to address this issue.”
GIPC Global IP Index 2021: Recovery Through Ingenuity
The ninth annual U.S. Chamber Global Innovation Policy Center International IP Index evaluates IP rights in 53 global economies across 50 unique indicators — from patent and copyright policies to commercialization of IP assets and ratification of international treaties.
The Index illustrates that economies with the most effective intellectual property (IP) frameworks are more likely to achieve the socio-economic benefits needed to face our biggest challenges, like COVID-19.
This year’s report is titled ‘Recovery Through Ingenuity’, and makes a robust case for how innovation and IP policy have worked together to respond to the COVID-19 crisis.
However, it notes that some of the countries in the report “took steps to undermine the framework that successfully enabled coronavirus-related innovation” including compulsory licensing of vaccine IP and calls for the waiving of IP rights on COVID-19 related medicines, devices and technologies.
US leads the IP pack overall: but Australia and Israel tie for IP commercialisation
Overall, the country which scored the highest on average across all the indicators was the US, at 95.31. The UK came second, with 93.9, followed by Germany, France, Japan, Sweden and the Netherlands, all scoring over 90.
From the IP valuation and commercialisation point of view, the figures, however, reveal a slightly different story.
Highest scoring countries for this indicator are Australia and Israel, tied on 95.83. Close behind is the US, with 94.5, and then Singapore, Switzerland and the United Kingdom, all on 91.67.
The report notes: “Many of the economies benchmarked in the Index have introduced policies that limit market access or commercialization of IP assets, with an average score of 59.42% in this category.”
The report points out that economies with effective IP systems are 38% more likely to attract venture capital and private equity.
The full report can be downloaded here.
Inngot has worked closely with national IP offices, government agencies and NGOs to research IP and intangible assets valuation and collateralisation around the world. See our research page.
Daren Tang picture © WIPO. Photo: Emmanuel Berrod. This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 IGO License.
Read Recent Articles
11 Dec 2024
Canadian Intellectual Property Office launches IP Canada Report 2024; special section on IP finance
Read Full Post
11 Dec 2024
Canadian Intellectual Property Office launches IP Canada Report 2024; special section on IP finance
Read Full Post
11 Dec 2024
Canadian Intellectual Property Office launches IP Canada Report 2024; special section on IP finance
Read Full Post
11 Dec 2024
Canadian Intellectual Property Office launches IP Canada Report 2024; special section on IP finance
Read Full Post
Inngot's online platform identifies all your intangible assets and demonstrates their value to lenders, investors, acquirers, licensees and stakeholders
Accreditations
Copyright © Inngot Limited 2019-2024. All rights reserved.
Inngot's online platform identifies all your intangible assets and demonstrates their value to lenders, investors, acquirers, licensees and stakeholders
Accreditations
Copyright © Inngot Limited 2019-2024. All rights reserved.
Inngot's online platform identifies all your intangible assets and demonstrates their value to lenders, investors, acquirers, licensees and stakeholders
Accreditations
Copyright © Inngot Limited 2019-2024. All rights reserved.
Inngot's online platform identifies all your intangible assets and demonstrates their value to lenders, investors, acquirers, licensees and stakeholders
Accreditations
Copyright © Inngot Limited 2019-2024. All rights reserved.