Patents to be traded like commercial goods in Turkish market

ANKARA - Hürriyet

The Turkish Technology Ministry is working on a regulation that will allow enterprises to show their patents as a guarantee to banks.

“The inventions will be bought and sold like commercial products,” Science, Industry and Technology Minister Nihat Ergün has said.

The recent increase in patent applications by individuals and institutions in Turkey has inspired the government to seek ways to broaden the usage of patents.

The differentiation among patents will form a patent market and eventually a structure called a “patent bourse” will be established, the minister said.

The model will be attempted once a draft code on industrial intellectual property, which is awaiting Turkish Parliament’s approval now, is passed into law.

The initiative aims to create a strong tie between the financial sector and intellectual property as patents will emerge as derivative financial instruments and will be easily exchanged for cash.

Companies will be able to show patents as a guarantee to banks, so the loan volume will increase as well.

Turkey has raked in around $250 billion annually from licenses given to intellectual property, Ergün said..