Who are you?
I am Robin Yeo, a Senior Consultant and Regional Manager of FT Consulting. I have been providing consulting services on IP management since 2007, so I have been in the IP scene for over 15 years.
What are some of your IP-related involvements?
I was involved in conducting the SCOPE IP programme (an IP management diagnostic programme) from IPOS (Intellectual Property Office of Singapore) for organisations in both the private and public sectors. Through this programme, I helped my clients understand the state of IP deployment in their organisations and to generate strategic options on the use of their IP.
I have also been conducting monthly IP Business Clinic sessions for IPOS since 2017. In these sessions I provide advice to companies and individuals on IP business related issues.
And in the past 15 years, I have consulted for over 50 companies on franchising or licensing their businesses through leveraging on their IP in Singapore and overseas markets.
From a Senior IP Consultant’s perspective, what does IP mean to you?
From my perspective as an IP Consultant, I see IP as a critical and indispensable asset for new and established businesses as it provides legal protection for their unique ideas and innovations. Businesses with exclusive IP rights for their IP such as trademarks, patents, copyrights, trade secrets and registered designs, can then commercially exploit their IP to generate profits.
How important do you think IP is for businesses?
IP plays an essential role in businesses in these following ways:
IP such as patents provide opportunities for businesses to license their patents locally and internationally, and prevent their competitors from copying their innovations.
IP such as trademarks help businesses build their brand value by differentiating their products or services from those of their competitors. Through this differentiation, trademarks create brand awareness and brand loyalty for a business and increase its brand value.
IP can be bundled or packaged in a way that enables businesses to franchise or license their IP to external parties and generate new revenue streams in new markets. For example, an F&B business can bundle their trademarks (e.g. the brand name / logo) , copyrighted materials (e.g. manuals documenting the business operations) and trade secrets (e.g. recipes) and sell them in a franchise package to potential franchisees in a new overseas market.
IP helps businesses to maintain or even further enhance their competitive advantage. IP such as trade secrets (e.g. formulas, customer listings, supplier listings) can provide a lasting competitive edge for businesses.
In summary, IP plays an essential role in businesses as they can leverage on their IP for business expansion and increase their brand equity.
In conclusion, intellectual property plays a crucial role in businesses by protecting innovation, building brand value, creating revenue streams, and maintaining competitive advantage. Therefore, it is essential for businesses to protect their intellectual property rights to secure their investments and maintain their competitiveness in the marketplace.
I am appreciative of all our clients who have chosen to work with us and trust our expertise of more than 32 years. I am definitely excited to continue being part of business journeys and growing businesses to greater heights!