On 27 April 2021, TSMP Law Corporation litigation partner Ong Pei Ching was quoted in a Business Times article on why the low uptake of old IP scheme spells valuable lessons for Singapore.
She said “We would need valuers of IA to become as common a sight in banks as valuers of real property.”
The IPFS was “an innovative start, but more can be done to broaden the appeal of this financing avenue”.
She also said “There should be a fluid market for IP rights, such that in the event of insolvency, lenders have the option to recover their investments easily, instead of stepping in to run the borrower’s business”.
She suggested that more data on successfully obtained loans be made public, “so as to motivate more business owners to consider this route”.
“Banks and other financiers will also be able to better assess the risks if they have more data on reliability of IP valuations, rate of recovery in events of defaults and rate of successful challenges to patents,” she commented.