The Department of Intellectual Property (DIP) plans to sign a memorandum of understanding (MoU) to create a new platform to enhance funding access for copyright holders.
Nusara Kanchanakul, director-general of DIP, said the MoU with the private sector is scheduled to be signed on Feb 24, with the goal of developing a platform called "Flips.IP".
The platform is expected to facilitate access to funding, probably through investment tokens, and allow intellectual property (IP) to be used as collateral for loans from financial institutions, she said.
Ms Nusara said DIP is implementing policies this year to foster job and income creation, as well as sustainable economic growth in Thailand.
Among these strategies is leveraging technology for services, such as a target patent fast-track programme in sectors such as green innovation, which aligns with future business trends.
The initiative aims to expedite patent applications and effectively support business growth, she said.
Moreover, the department is developing a big data system for patents that integrates artificial intelligence to enhance the analysis, comparison, and search capability related to patents, aiming to speed up the approval processes, said Ms Nusara.
She said DIP also began a trademark monitoring project to protect Thai trademarks from fraudulent overseas registration, particularly for micro, small and medium-sized enterprises looking to enter global markets.
In addition, the department collaborated with rights holders, e-commerce platforms, and other agencies to suspend and block websites selling counterfeit goods, lifting the confidence of investors and IP owners. This includes integrated efforts to crack down on IP infringement across the country, aiming to remove Thailand from the US's IP Watch List, said Ms Nusara.
She said DIP is working on several pieces of legislation, such as a draft Patent Act, which is undergoing public hearings before submission to parliament.
Drafts of the Geographical Indication Protection Act and Copyright Act are awaiting cabinet review.
The department is preparing legislation to regulate remuneration for copyright and performing rights, supporting the government's soft power policy. This framework aims to enhance transparency, usability, and adherence to international standards for royalty collection, said Ms Nusara.
