Pintas IP Group

Quote
Now
Member
Login
zh_CN CN
zh_CN CN en_US EN
Member
Login
Quote
Now
zh_CN CN
zh_CN CN en_US EN
zh_CN CN
zh_CN CN en_US EN
zh_CN CN
zh_CN CN en_US EN
Member
Login
Quote
Now

IPOS Launched a New Framework for Enterprises to Disclose and Communicate Intangible Assets (IA)

In Articles/BlogPosted

A press release was issued by the Intellectual Property Office of Singapore (IPOS) on the 4th of September 2023 announcing the launch of the Intangibles Disclosure Framework (IDF) by the IPOS and Accounting and Corporate Regulatory Authority (ACRA). The new framework, of which is the first in the world, was introduced to provide a structure to disclose and communicate the value of intangible assets (IA) alongside new resources to help enterprises manage and communicate their intellectual property (IP).

More than 90% of value from the S&P 500 is made up of intangible assets. Considering the increasing importance of IA, the IDF offers a systematic and consistent approach for disclosing and communicating IA such as brand value, patents or registered designs.

Second Minister of Finance, Indranee Rajah stated at IP Week@SG 2023, “The IDF is part of the Singapore IP Strategy 2030 and is a key step to help enterprises commercialise their IA. Improving IA disclosures can lead to better investment decisions, improved risk management, and increased competitiveness in our markets”.

The disclosure principles in the IDF are based on four foundational pillars:

  • Strategy: Assist enterprises to communicate how their IA contribute to their overall corporate strategy.
  • Identification: Propose ways enterprises should categorise IA based on their nature and characteristics, facilitating comparability.
  • Measurement: Guides enterprises and stakeholders to make better assessments of the performance of enterprises’ IA through relevant metrics.
  • Management: Helps enterprises identify, assess, and manage risks and opportunities related to their IA. 

Intellectual property is one of the most valuable assets for an enterprise. The ability to systematically identify and align intangibles with strategy and performance empowers an enterprise to extract additional value from their IP, facilitating further expansion.

Learn more on Intellectual Property protection in Singapore or other countries within the ASEAN region by contacting Pintas IP Group today!