Five companies that have brands with more than 50 years of heritage are being honoured with a new award.

The award is the brainchild of the Intellectual Property Office of Singapore (Ipos), which wanted to mark brands that have achieved success over time while also establishing a positive reputation for Singapore in consumer markets.

Ipos is handing out the honours as part of the jubilee celebrations.

The winners of the SG50-Ipos award are Axe medical oil from Leung Kai Fook Medical Company, Brand's health supplements from Cerebos Pacific, Crocodile clothing by Crocodile International, Knife cooking oil from Lam Soon Singapore and Goh Joo Hin's New Moon.

The judging panel assessed candidates on how well a brand can be recalled by an average consumer, the sense of nostalgia it evokes and its continued business success.

Associate professor Tan Ern Ser of the Lee Kuan Yew School of Public Policy, one of the judges, said: "This initiative is timely as we reflect on Singapore's progress... and take pride in our local enterprises that have created brands of enduring success and significance."

Ipos' director of trademark registry, Ms Tan Mei Lin, noted that the winners made a point of protecting their intellectual property.

"Trademarks serve to lend businesses a critical competitive edge in the global consumer markets," Ms Tan said.

Minister for Law and Foreign Affairs K. Shanmugam will present the awards to the recipients on Aug 25 at IP Week @ SG, a global intellectual property event.