MICRO, small and medium enterprises are encouraged anew to protect their intellectual property assets to build a loyal customer base as they enhance the market value of their business.In a workshop organized by the Philippine Chamber of Commerce and Industry , Intellectual Property Office of the Philippines Director General Rowel Barba said a trademark protects a business’ brand, as well as is a tool to boost innovation and competitiveness.
Barba cited a World Intellectual Property Organization report indicating that firms worldwide hold intangible assets amounting to US$61.9 trillion in 2023, up eight percent since 2022 and rising 10 times from US$6 trillion in 1996.Given the critical role that trademarks play in protecting brands, IPOPHL has a number of programs that can help businesses safeguard important IP assets.