IPR consultant and IProtect administrator Andrew Ong urged small companies, especially the great business ideas developed in Cebu to enter into IPR protection, so that they can own their business concepts and avoid to be copied by other entrepreneurs.
In his talk with the small and medium industry players in Cebu recently, Ong stressed the importance of IPR in doing business in the highly competitive trading landscape.
He said there are globally competitive business concepts, products, and brands that are developed in Cebu, owners should immediately get an IPR for its ideas, concepts and brand names so that they can pursue global marketing, and effectively compete with the world.
"It is difficult to compete with big businesses in terms of assets," Ong said however, he emphasized that small and medium entrepreneurs could well join the global trading playground and be more competitive if their businesses are protected, especially those novelty ideas, concepts and homegrown software products.
IPR he said allows companies to monopolize its business concepts within a period of time, and under certain restrictions.
Cebu's famous "Lechon" product or the Otap delicacy for example can be owned by a certain entrepreneur, with distinct product name through IPR.
There are three kinds of IPR, the copyright, patents/trade secrets, and trademark.
Copyright protection is applied to designs concepts, patents/trade secret is for products for instance in construction. Trademark on the other hand, is for product name or brand.
If an employee for instance developed a good business concept, or idea, it can be protected but the right is owned by the company she or he is working for.
But, if an employee has a good business concept of has developed a good product that is not related to her /his work, the right can be owned by the employee.
According to Ong, small companies can easily apply for IPR protection as this does not require huge investment capital.
For a trademark application for instance, an average fee is only P800 a year for protection of name, brand, and concept or business idea in the Philippine market.
But if a company wanted to have worldwide protection through IPR, an investment of an average P500, 000 a year is required.
There are several homegrown Cebuano companies, which are able to make it to the world market while protecting its product and brand name, such as Penshoppe, among others.
Applying for IPR protection would only take within 12 months, Ong said.