Updated: 08/26/2014 18:36

Government announces new intellectual property and strategy lab

Government announces new intellectual property and strategy lab

Businesses looking to commercialize new ideas and concepts will be able to get a helping hand from an intellectual property and strategy centre. 

The IP Valuelab, which was launched today by Minister for law and foreign affairs, Mr K Shanmugam, will help businesses recognize the value of their ideas and innovations, and better commercialize them. 

Besides promoting research on intellectual property valuation standards and best practices, the facility will develop a training curriculum for IP valuers and administer a scheme to help companies get access to funding. 

Come next quarter, local companies that need advice on legal issues relating to intellectual property can attend legal clinics at IP 101, the one-stop services centre of the Intellectual Property Office of Singapore, or IPOS. 

IPOS will also launch an IP scholarship, which will be awarded to 15 outstanding graduates per year, who will be able to pursue a career in the IP industry through master degree courses at top universities. 

These announcements were made at an industry event in Singapore.

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