From the Experts: tackling the top IP challenges for businesses

Intangible assets (IA) and intellectual property (IP) are important resources for young businesses. However, navigating them can feel like walking a tightrope.

Companies often struggle to balance innovation and protection while avoiding pitfalls on their growth journeys.

Photo credit: Chay_Tee / Shutterstock

“Failing to secure the necessary IP rights can leave businesses vulnerable, but it’s also important to remember that IA and IP are significant sources of revenue,” says Vivian Wei Cheng, patent attorney at law firm JurisAsia.

To help companies deal with these hurdles, the Singapore government has launched GoBusiness IP Grow, an online platform that gives businesses of all sizes access to a comprehensive directory of IP experts that can provide tailored advice.

Here are some of the most common questions firms have about IA and IP, with answers from the experts on GoBusiness IP Grow.

1. How do I secure my IP without stalling my launch?

Imagine spending months perfecting a game-changing product, only to realize too late that your innovation isn’t properly protected and competitors are swooping in. This unfortunate situation can be avoided if you get your IP rights in order from the beginning.

But getting started is tricky, given that companies have a wide range of IP tools at their disposal.

According to Jens Loosen, Asia Pacific general manager at IP management firm Dennemeyer Group, these are broadly classified as trademarks, patents, copyrights, and trade secrets.

Companies also need to think about where they register their IP rights and focus on key markets, especially with registrable IP such as patents and trademarks, which are often territorial and only enforceable in their specific countries of registration.

Photo credit: Bogdan Sonjachnyj / Shutterstock

“Entering the World Intellectual Property Organization’s Patent Cooperation Treaty (PCT) can help facilitate more far-reaching protection and can save you money,” Loosen explains. A single international patent application through the PCT can provide applicants with protection across many countries simultaneously.

It’s also important to tailor an IP strategy to each product or service as well as the company’s overall business strategy. This might involve using different combinations of registrable and non-registrable IP tools to “prevent valuable innovation from falling between the cracks,” says Matthew English, partner and patent lawyer at legal firm Marks and Clerk.

Technology-related IP, for example, can be secured with patents or registered designs, while trademarks can protect product-specific brand names.

“A single form of IP protection is usually inadequate, so I’d recommend doing a full audit and figuring out what you need,” he adds.

Companies need to think about protecting their IP from the start – waiting until after a product launches to think about IP protection is a fatal error.

“For patents, that’s likely much too late. To qualify for a patent, the invention must be new and not publicly disclosed before the application is filed. Even trademarks, in some jurisdictions, are conferred based on the ‘first to file’ rule,” explains English.

“You could have competitors swooping in and filing trademark applications that should belong to first movers.”

2. How do I fend off copycats while staying competitive?

The moment a product or service takes off, imitators are bound to emerge. The challenge lies in protecting one’s innovations while staying agile and competitive.

“Register your IP rights,” says Yang Jie An, an associate principal at intellectual property firm Davies Collison Cave (DCC). “That will give you stronger legal rights and a wider range of enforcement options.”

He adds that adding registration numbers or using the registered trademark “R” symbol on products can potentially deter copycats as it clearly establishes your claim.

It’s a balancing act between safeguarding innovation and managing resources wisely.

Businesses can also consider training staff to identify potential IA and IP violations as well as having written agreements that clearly state how third parties can use their IP.

While safeguarding your IA and IP rights is essential, continuously assessing the effectiveness of IP strategies in place is also important.

“Just because an IP right is registered doesn’t mean it can’t be challenged,” explains Renee Xavier, director at law firm Alpha and Omega. “What you really want is an IP right that will hold up if someone tries to challenge it because that’s the kind of protection that gives you real control over your product or service.”

Businesses should also keep in mind that taking legal action isn’t the only way to protect IA and IP – according to Xavier, in some cases, it’s better to collaborate with competitors, turning them into partners rather than adversaries.

3. What’s the right move when my creations are copied?

“First, you should save all available evidence of the offending conduct,” advises Benita Lau, senior associate at DCC, adding that the types of relevant evidence could vary on a case-by-case basis.

“If the copying relates to your branding, for example, you could save copies of advertisements or screenshots from social media pages,” she says. “If an employee has copied confidential information, then you might need forensic investigations of company hardware and software.”

Photo credit: Volha_R / Shutterstock

Companies should then consult with an IP professional to figure out which rights are being infringed and what the next course of action could be. These could include issuing a cease-and-desist letter or filing a lawsuit, though non-legal settlements may also be worth exploring.

“Sometimes an infringer may not have intended to infringe and will be grateful to be informed,” adds Alpha and Omega’s Xavier. “How strongly to pursue the issue depends on the strength of the case and how much bargaining power the business has.”

Dominique Christ, managing director of Dennemeyer Consulting, encourages businesses to take a strategic view of IP infringement.

“While legal action is one approach, it’s equally important to assess the broader business impact and explore alternatives like licensing or partnerships to create new opportunities,” he explains. “Infringement can also be an opportunity to strengthen your reputation as an innovator and highlight your commitment to protecting intellectual property.”

4. How do I manage costs without compromising on protection?

For many entrepreneurs, safeguarding their intellectual property poses a financial conundrum, especially for startups with limited budgets – a patent can cost around S$5,600 (US$4,156) per application in Singapore.

However, effective IP protection doesn’t have to break the bank.

“You could take a staggered approach to filing,” DCC’s Yang suggests. “Many of our clients focus on filing their most important IP, like their business names and inventions, in key markets first. Other filings can occur as the business expands.”

Photo credit: voronaman / Shutterstock

English from Marks and Clerk suggests that businesses consider using non-registrable IP rights like trade secrets and copyrights, which are less pricey options.

“Sometimes patents are absolutely necessary, but this is why we have to take a strategic and generational approach,” he says. “By limiting where the first round of patents are filed and abandoning earlier patents when the next generation of technology is developed, you can prevent an escalation of costs.”

Businesses can also leverage the Madrid Protocol, a convenient and cost-effective solution for registering and managing trademarks internationally. By filing a single international trademark application and paying one set of fees, businesses can apply for trademark protection in up to 131 member countries.

Ultimately, IP rights will depend on a “proactive, multilayered strategy” where companies have to exert a high degree of vigilance and practice, says JurisAsia’s Cheng.

“It’s a balancing act between safeguarding innovation and managing resources wisely,” she explains. “Companies that approach IP strategically – prioritizing key markets, layering protection, and responding proactively to infringements – will be better equipped to protect their competitive edge, brand reputation, and growth potential.”

Currency converted from Singapore dollar to US dollar: US$1 = S$1.35.

GoBusiness IP Grow is a one-stop online marketplace where enterprises in Singapore can connect with the right IA and IP experts to grow their business.

Whether you need to protect your brand from copycats, secure licenses for overseas expansion, or navigate complex IP issues, you can turn to GoBusiness IP Grow for a comprehensive directory of IP professionals ready to provide tailored advice.

Submit your questions here and get free personalized advice from experts.

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This content was produced by Tech in Asia Studios, which connects brands with Asia’s tech community. Learn more about partnering with Tech in Asia Studios.