Practitioners and government regulators attended the Philippines’ first roundtable discussion on intangible asset valuation last 3 March 2023 at the Acacia Hotel, Alabang, Muntinlupa City, Philippines. Organized by the Licensing Executives Society Philippines (LES Philippines) together with the Department of Science and Technology – Philippine Council for Agriculture, Aquatic, and Natural Resources Research and Development (DOST-PCAARRD) and the Association of PAQE Professionals, Inc. (APP), the half-day event focused on determining the standards of IA valuation in the country, the need for professionalizing

of the valuation practice, and the minimum requirements of training and experience that a practitioner must have to prepare a credible report.

Dr. Reynaldo Ebora, Executive Director of DOST-PCAARRD, welcomed the participants and opened the roundtable by reviewing the laws and regulations affecting IA valuation, from the Technology Transfer Act of 2009 to the recently approved House Bill 8453 or the Valuation Reform Act.

Dr. Frederick Romero, Assistant Director at the Intellectual Property Office of the Philippines (IPOPHIL) and officer-in-charge of IPOPHIL’s IP Academy, confirmed that there is a more urgent need to standardize the practice of IA valuation because of the effect that this practice has on the intellectual properties of the various stakeholders in the country. Dr. Romero added that an environment of IA valuation should be created and that a database of valued IPs has to be established to benchmark royalty rates.

Ms. Mary Jade Roxas- Divinagracia, Managing Partner at PwC Isla Lipana & Co., posited that while only one of the three general approaches to valuation is sufficient to provide a credible value for an IA, the first approach must be cross-checked with the other two methods due to the subjectivity of the practice. The use of International Valuation Standards with the International Finncial Reporting Standards in Filipino IA valuation, Ms. Divinagracia added, should improve transparency in local valuation reports. She also cautioned that IA valuation should be principles-based and not rule-based to build a momentum of trust and credibility in the valuation practice. Ms. Divinagracia joined Dr. Romero’s call on possibly requiring accreditation of IA valuators to protect IP stakeholders.