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In the context of global competition, innovation-driven enterprises serve as the primary engine for propelling and upgrading the economy from one reliant on traditional labor and physical resources to a high-value, product-oriented economy. This is achieved by applying advanced scientific and technological knowledge to create distinctive goods and services that are highly resistant to imitation.
Despite their potential to generate substantial value-added, early-stage innovation-driven enterprises frequently encounter barriers to accessing capital due to their inherently higher business risks compared to conventional firms. A critical obstacle is the limitation in valuating intangible assets—such as intellectual property (IP), algorithms, or user databases—which constitute the core assets of these businesses. Current accounting systems and collateral appraisal frameworks lack universal standards and the efficacy required to translate innovations into tangible economic value.
The difficulties in appraising these assets often lead financial institutions to reject credit applications or impose stringent collateral requirements. This acts as a significant bottleneck, impeding the full-scale commercialization of innovations from the laboratory phase to the broader market.
The development of mechanisms to utilize intellectual property as collateral presents a crucial opportunity for innovative entrepreneurs to overcome physical asset constraints in accessing funding. By legally converting research outputs, patents, or trademarks into viable business collateral, this approach not only enhances financial liquidity but also encourages entrepreneurs to recognize the economic value of their knowledge and creative output.
Furthermore, legal recognition and the establishment of internationally standardized valuation criteria help mitigate perceived risks among financial institutions. This paves the way for novel credit products tailored to the creative economy, enabling entrepreneurs to effectively channel acquired capital into commercial scaling and global business expansion.
In Thailand, the Department of Intellectual Property has integrated cooperation with the Thai Valuers Association (TVA) and the Valuers Association of Thailand (VAT) to lay the foundation for the country’s IP Finance system. The initiative focuses on resolving confidence issues surrounding the valuation of intangible assets and the lack of liquidity in secondary markets. A key approach includes establishing a centralized valuation standard aligned with international principles, driven through a six-pillar framework.
This framework encompasses everything from upgrading innovations, commercial IP evaluation and analysis, and credit provision, to policy and legal support. The objective is to increase opportunities for SMEs and Startups to access capital using IP as collateral, thereby creating economic value-added and driving the sustainable growth of Thailand’s innovation ecosystem. Additionally, this effort is being scaled up through collaborations with global entities, such as the World Intellectual Property Organization (WIPO), to transfer knowledge and integrate international standards in intangible asset valuation.
Standardized Intellectual Property Valuation (IP Valuation) is the cornerstone of transitioning toward a high-value economy, serving to alleviate the capital barriers faced by early-stage innovation-driven enterprises. The conversion of intangible assets into tangible business collateral, bolstered by international collaboration, not only provides entrepreneurs with the liquidity to expand globally but also enhances overall national competitiveness and sustainably drives Gross Domestic Product (GDP) through the utilization of modern knowledge and technology.
Author Kamol Panmuang
Senior Researcher
International Institute for Trade and Development (ITD)
www.itd.or.th
Publication Details:
Published in: Krungthep Turakij Newspaperฅ
Section: First Section/World Beat
Volume: 39, Issue: 13091
Date: Wednesday, February 11, 2026 Page: 8 (Bottom Left)
Column: “Asean Insight”
