Why SMEs need build their own Intellectual Properties (IPs)
Updated: Apr 3, 2021
• Intangible assets in the S&P 500 have reached unprecedented levels.
• As of 2020, 90% of all assets in the S&P 500 are now intangible.
Intellectual Property is key component of intangible asset, which will increase your company’s valuation tremendously.
SMEs are the engines of growth in Southeast Asia, creating jobs for the masses, motivating the development of new products and services, spurring consumption growth, and playing a crucial role in promoting industry competition. In Singapore, 99% of enterprises are SMEs and contribute to 65% of all employment.
In current VUCA world, traditional businesses being disrupted by new technologies and new business models, SMEs need to transform to stay relevant. However, the majority are not well placed to transform due to a weak understanding of intangible asset, as well as limited resources to develop their own intellectual properties.
Challenges for SMEs to build their own intellectual properties
How many SMEs can afford to spend half a million dollars to maintain an inhouse IP Manager & an Innovation Manager? Without IP Manager & Innovation Manager, how can SMEs create and build up their own Intellectual Properties (IPs)?
Multinational Corporations (MNCs) have their own inhouse IP managers and Innovation Managers to build and manage their own intellectual properties. However, to maintain an IP Manager & an Innovation Manager in house, MNC typical will spend 400,000~600,000 S$ annually.
• Cost to maintain an inhouse IP Manager in an MNC: 200,000~300,000 S$
• Cost to maintain an inhouse Innovation Manager in an MNC: 200,000~300,000 S$
HIPPSUN Pte Ltd (新加坡高科知识产权管理有限公司）
HIPPSUN Pte Ltd is a Singapore based intellectual property management company, which firstly provides the shared IP manager and innovation manager services to SMEs.
We partner with China Star Patent Lawyer to help SMEs directly file patent in China. You may use only 1/3 of money and get patent protection at 1.4 billion population market, compared to file patent in Singapore.
For SMEs, who want to build up innovation capabilities, but don’t have resources to hire a full-time IP manager; the HIPPSUN is a consulting company, which provides shared IP manager and Innovation Manager service. HIPPSUN helps SMEs to create their first patent by using SG Innovation grant.