Minutes - TRIPS Council - View details of the intervention/statement

H.E. Ambassador Dagfinn Sørli and Ambassador Dr. Lansana Gberie
World Intellectual Property Organization (WIPO)

427.   We have read with interest the document IP/C/W/686 on the topic of "Intellectual Property, Innovation and Microfinance". As the paper highlights, access to finance is critical for the economic growth of MSMEs. Economies are increasingly driven and built upon intangible assets, which occupy a growing portion of businesses' resources and can be leveraged for growth. Clearly, in such economies, it is crucial that MSMEs are able to use their IP to access finance. WIPO is elaborating a comprehensive programme of activities on this issue of IP-Backed Finance, in order to facilitate the use of intangible assets as a source of financing. The activities will include, among others, the following: 428.   First, reports on the country situation – these reports - already in preparation - take stock of different countries' initiatives and approaches regarding the use of IP assets as a source of financing. Their goal is to collect and share knowledge and experience on prospects, challenges, actions pursued, best practices and future initiatives, from the perspectives of governments, financial institutions and other stakeholders. 429.   Second, facilitation of international discussions – In order to raise the profile of the potential of IP-Backed financing, WIPO is planning to hold an annual High-level conversation – the first one in fall 2022 - that will bring together leaders in the fields of finance, business, and IP, from the private and public sectors. 430.   Third, focused work with businesses and lenders, about the economic value of intangible assets. Through a series of guides and related activities, we will work with both businesses and lenders to better equip them with skills on how to identify and convey the value of intangible assets and use those as instruments in the course of raising finance. 431.   Four, work on IP Valuation – common accepted standards for IP valuation are critical for widespread use of intangible assets as a source of financing. We are currently working on developing several initiatives in this area as well and will have more information to share soon. We are available to provide any additional information Members may desire.

The Council took note of the statements made under this item.
83. The Chair said this item had been put on the agenda at the request of Australia; Canada; Chile; the European Union; Japan; Singapore; Switzerland; The Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu; the United Kingdom; and the United States of America. A communication with the same title had been received from the co-sponsors and circulated as document .
84. The representatives of Canada; the United States; the European Union; Japan; Singapore; the United Kingdom; Chinese Taipei; Australia; Switzerland; Chile; Chad Brazil; Hong Kong, China; China; and WIPO took the floor.
85. The Council took note of the statements made under this item.
IP/C/M/104/Add.1, IP/C/M/104/Rev.1, IP/C/M104