S'pore aims to turn creativity into gold and be finance hub for intellectual property
Published on Mar 13, 2014 7:43 PM
It is common to use property such as houses to get financing, but what about less tangible property, namely intellectual property?
If the Government has its way, Singapore will become a centre where such assets of the mind can be turned into gold. But as Ms Indranee Rajah, Senior Minister of State for Law and Education said on Thursday on the sidelines of an intellectual property (IP) symposium at Marina Bay Sands, one key challenge in using such creative assets to help firms raise funds is in determining its value.
"You need to develop valuation expertise in order for this happen," she told The Straits Times, noting that this comes from experience in using accounting principles and transactional data to arrive at the fair market value of an asset.
"If you have a trademark, its value depends a lot on what people would pay for it. What you would pay, for example, for a Nike trademark is very different from what you would pay for (the trademark) of a new company's product that has not been tried and tested," she said.
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