More than 700 participants took part in Business of Intellectual Property Asia Forum (BIP Asia), which opened on Friday at the Hong Kong Convention and Exhibition Centre.
Organised by the Hong Kong Trade Development Council (HKTDC) and the Hong Kong Design Centre, with support from the Intellectual Property Department of the Hong Kong SAR Government, the event brings IP professionals and government officials together to discuss the latest developments in Asia’s IP market.
"Growing globalisation of IP trading activities and increasing IP supply and demand in Asia have induced a greater need for regional IP intermediaries," said HKTDC assistant executive director Raymond Yip, adding that Hong Kong offers the best opportunities for IP trading in the region. "Hong Kong‘s multiple roles as an IP middleman, a regional IP manager and services hub will continue to evolve and expand," he said.
Intellectual property is becoming a new driver for the world‘s economic development. The upgrading of the Chinese mainland‘s industrial sector has led to significant demand for overseas IP. This development is set to continue, given the mainland‘s 12th Five-Year Programme. Overseas companies from mature markets such as the US and Japan are also expanding their businesses through the buying and selling of IP.
Yip said small and medium enterprises (SMEs) would do well to embrace IP opportunities. "To enhance competitiveness in the long run, SMEs have to transform themselves through product or service differentiation by making use of available IP in the market, as well as identifying suitable brand-building strategies," he said.
"BIP Asia connects IP players from all over the world and helps participants explore new business opportunities through discussion sessions, networking and business-matching services. It encourages companies to ride on Hong Kong‘s comparative advantages in R&D, creative industries, trading and business-related services, and explore further Asia‘s vast IP opportunities via Hong Kong," said Yip.
Forum highlights included a plenary session on technology and the latest trends in IP trading, as well as IP trading on the mainland. Panel discussions spotlighted IP portfolio management, the growth of the IP business in Asia, and the role of design in intellectual property protection. Thematic workshops covered IP protection, valuation, training and education, and arbitration.