ITechConnectPH Inc., a new technology company, has signed a Memorandum of Agreement (MOA) with Cebu-based Suki Trading Corp. to market its intellectual property (IP) in different regions nationwide.
ITechConnectPH was represented by inventor and entrepreneur Francisco “Popoy” Pagayon, Filipino Inventors Society Producers Cooperative’s (FISPC) president, who inked the agreement with Suki…, a company based in Lapulapu City in Cebu and represented by its president, businessman Victoriano B. Ocon.
The two agreed that ITech will market the Suki … IP on an exclusive basis in Regions 1, 2, 3, 4A, 4B, 5 and CAR. This means that the marketing can be in the form of technology and technical information; intellectual property rights that include patents, trademarks, copyrights, system designs and other rights related to IP.
The MOA signing was held at Midas Hotel, Pasay City and a short program was presided by Dept. of Science and Technology (DOST) Undersecretary Sancho Mabborang.
ITech would also market documents that may include all information on the IP such as technology license agreements “affixed on any tangible medium of expression for or format, including any and all copies.” and for technical information, the marketing will include all know-how and related technical knowledge relative to the IP.
Mabborang noted that there is a low adoption and utilization of technologies being generated. It was for this reason that he wants the “generator” connected to the “adoptor” through ITechConnectPH.
With this, Mabborang hopes that there will be high adoption rate of technology by DOST. “Dito ay matitiyak natin na tataas ang adoption rate sa DOST dahil hindi lamang limitado ’yong pakikipag-ugnayan sa mga inventor, kundi sa mga researchers, scientists, engineers na mayroong technology na puwedeng ibenta, puwedeng i-commercialize or for public good,” the DOST official explained.
Suki Trading Corp. is also into sale of agri-industrial machinery and construction equipment.
Ocon said he hopes that with the signed agreement, inventors will have a platform to share technologies and there will be higher adoption.
The two corporations further agreed that Suki… will pay P1-million pesos to ITech as a signing fee. The former will also grant access and/or turn over to ITech all technology, intellectual property rights, documents and technical information over in or relative to IP.
It was further agreed that for each closed deal, ITech will receive 20 percent from any amount within five days from receipt of any closed transaction. ITechConnectPH and Suki Trading Corporation are both members of the DOST Small Enterprise Technology Upgrading Program (DOST-SETUP).