The Intellectual Property Office of Singapore (IPOS) introduced a national standard of a management and auditing tool named Strategies for Creation, Ownership, Protection and Exploitation of Intellectual Property, or "SCOPE-IP". In our technology driven world, intellectual property ("IP") plays a critical role and successful companies recognise the importance of performing due diligence so as to aggressively exploit their IPs to full potential.
SCOPE-IP is a tool designed to assist businesses in adopting best practices in IP management so that they may take full advantage of their IP assets to maximize shareholder.
SCOPE-IP was introduced in phases. Phase One of SCOPE-IP is available on a complimentary basis from IPOS via an online self-assessment diagnostic tool. The tool helps senior managers to identify and take stock of their IP and identify the strengths and weaknesses within the organisation in their protection and use of their IP assets.
Phase Two of SCOPE IP, introduced in mid-2004, focuses on portfolio management. This module allows companies to identify their own IP portfolio and examine whether the company puts into place proper systems to manage their IP. Phase Two requires the participation of IP consultants, who are engaged to assess the IP capabilities of enterprises and develop a set of "best practice" protocols on IP management as a framework for use. IPOS has made available a panel of recommended IP consultants to assist firms which endeavor to make their IP work better for them. This information is available on
Having undertaken a SCOPE-IP assessment, companies may realise that they have not fully exploited their IP assets and may be prompted to consider further investigation such as an IP valuation as a means toward achieving their goals of international growth.
The SCOPE-IP exercise may spur a company to reassess their branding strategy and prompt further research such as patent mapping, to ascertain if the company is on the right track in their patenting strategy.
Further, given the implementation of a tax incentive scheme in November 2003 which grants companies automatic writing-down allowances on capital expenditure incurred in acquiring IP rights acquisition, Singapore companies now have added tax incentives to consider regular IP audits to take stock and keep track of their IP rights and assets.
The introduction of SCOPE-IP fits nicely as part of a concerted effort by the Singapore Government to consolidate Singapore’s leading position in the field of intellectual property rights protection in the region and complements its aim of developing Singapore into the region’s one-stop IP hub.
The content of this article does not constitute legal advice and should not be relied on in that way. Specific advice should be sought about your specific circumstances.