CEBU, Philippines - The public can now make use of technology research outputs faster with the passage of Republic Act 10055, which is also known as the Philippine Technology Transfer Act of 2009.
President Gloria Macapagal Arroyo signed into law, last March 23, RA 10055 which now defines Intellectual Property (IP) as the “tangible assets resulting from the creative work of an individual or an organization,” including creations of the mind, such as inventions, literary and artistic works, and symbols, names, images, and designs used in commerce.
The new law also defines the framework and support system for the ownership, management, use and commercialization of IP derived from government-funded research and development (R&D).
The passage of the bill is expected to expedite technology transfers, which before, would normally take years before research outputs are made available to the market.
RA 10055 essentially spelled out the guiding principles on several issues that used to hamper the commercialization of technology, such as ownership, sharing, and use of revenue, among others. With the ironing out of these crucial concerns, “the law facilitates and systematizes the transfer of technology or knowledge from the laboratory to market,” said Dr. Albert Aquino, head of the Tech-Transfer Technical Working Committee of the Department of Science and Technology.
In the past, research outputs take longer time before it can reach the public as a tangible product because of policy gaps.
According to DOST, the absence of standard procedures compelled concerned individuals and institutions to enter into an agreement that spelled out percentage of ownership of everyone involved, as well as royalty fees.
In a report released by DOST, it said that RA 10055 puts an end to ownership questions by investing the IP ownership to the research and developments institution (RDI) that performed the research.
According to the Act, RDIs are in a better position to identify the potential for economic use of IPs and IP rights as they have the “right skills and management capability.”
On the other hand, the Act, exempts RDIs with previously written agreements on the sharing, limiting, waiving, and assigning of IP and IP rights ownership.
Likewise, the Act defines the rights and responsibilities of government funding agencies and RDIs, management of IPs, revenue sharing, commercialization and establishment of spin-off firms, use and compulsory licensing of technologies, use of income, establishment of mechanisms, and others.
The DOST spearheaded the preparations of RA10055 which was favorably endorsed by the S&T Committees in the Lower House headed by Rep. Antonio Abaya and in the Senate headed by Sen. Edgardo Angara.