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2 June 2016Copyright

IPOS approves first IP collateral loan

The Intellectual Property Office of Singapore (IPOS) has approved the first loan application using IP as collateral under the IP Financing Scheme (IPFS).

The scheme aims to help IP-rich businesses monetise their assets.

Masai Group International was the company whose loan was approved and it “plans to go places” with the financial boost, according to IPOS.

It is the first step for IPOS’s plans to “build a robust and vibrant IP-enabled ecosystem”, with an aim to help businesses take their brands, technology and content to the world market.

Using intangible assets in the form of a loan is a recent development in Singapore.

The loan is supported by DBS Bank, which is one of the scheme’s participating financial institutions .

From July 1, IP owners can monetise their assets including trademarks and copyrights through the IPFS.

The scheme has been extended until March 31, 2018 as the IPOS expects applications to increase.

Joyce Tee, head of small-and-medium enterprise banking at the DBS Group, said: “We are very pleased that the collaboration with IPOS to monetise these intangible assets, recognising patents as an alternative security, has worked well.”

Daren Tang, chief executive of IPOS, said: “As Singapore’s economy becomes more innovation-driven, IPOS is stepping up our efforts to help local companies and entrepreneurs realise that IP is not just about protection of their legal rights; it is about using it grow their business.”

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