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Patented technology is now eligible for investment priority plan incentives

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The latest Investment Priority Plan (IPP) is now recognizing projects that facilitate the entry of patented technology into the market as incentives.

On February 9, the Investment Commission signed the 2020 IPP Implementation Guidelines approved by President Rodrigo R. Duterte last year.

Plans detailing which industries are eligible for tax incentives include a project to address Coronavirus Disease 2019 (COVID-19).

Patented products and services that have not yet been commercialized can also receive incentives under the new plan.

IPOPHL said in a statement on Sunday that patented inventions, utility models and designs registered with the Philippine Intellectual Property Office (IPOPHL) are eligible if they have not yet provided the financial benefits of licensing or selling. ..

Rowel S, Secretary-General of IPOPHL. Barba said this inclusion would help improve the submission of intellectual property to the office.

Going forward, we will continue to enhance our activities to generate intellectual property at the next IPP. We hope to succeed in bringing more socially relevant and industrially useful intellectual property products and processes to market.

The commercialization of patents falls into the IPP innovation driver category, including the creation of R & D and business incubation hubs and innovation centers.

Innovation and Technology Support Offices (ITSOs) or universities and research centers affiliated with IPOPHL are counted as Innovation Centers.

IPOPHL states that ITSO provides access to patent and science and technology databases, assistance in using patent databases, training in drafting patent claims, and advice on intellectual property management.Jeni-na P. Ibaez

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