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JIPO wants to use intellectual property as loan collateral

Entertainment News Written by  Wednesday, 20 April 2016 06:51 font size decrease font size increase font size 0
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There is a move afoot to use intellectual property as collateral to obtain loans.   

 

Ultimately JIPO, like other institutions, is seeking ways to increase financing to individuals who fall under its mandate. But first, it has to come to an agreement with the financial institutions and the Government of Jamaica in confirming a valuation process, setting a standard and a national policy which allow the banks to grant loans on intellectual property.

JIPO is an agency of the Ministry of Industry, Investment and Commerce and administerers of designated owner’s protection systems through copyrights and related rights, trademarks, geographical indications, industrial designs, patents, layout designs, new plant varieties, traditional knowledge and cultural expressions.

 

So far, the institution has registered more than 69,000 trademarks for individual creators and innovators, micro, small and medium enterprises.

 

From April 24 – 29, JIPO will observe Intellectual Property Week 2016, under the theme ‘Intellectual property in the digitised age: creativity, culture, piracy and awareness’.

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