MSMEs urged to protect IP amid pandemic

MANILA – Micro, small and medium enterprises (MSMEs) with protected intellectual property (IP) and positive branding strategies have defied store closures and revenue losses that marked the first pandemic year, according to industry stakeholders.

“Through e-commerce, MSMEs can reach out to more potential consumers not only within the country but also within international markets. E-commerce not only became a means for businesses to keep afloat during the pandemic but, in some cases, even helped MSMEs expand their markets,” Department of Trade and Industry’s (DTI) Special Concerns and Trade Promotions Group Undersecretary Abdulgani Macatoman said in a statement.

However, Macatoman acknowledged that with opportunity comes risks, particularly that of unfair competition from copycats once creations and products of MSMEs are out in the open.

Latest estimates by the Organisation for Economic Co-operation and Development show that imported fake goods are at $509 billion as of 2016, about 3.3 percent of total trade that year.

Figures are expected to have spiked due to coronavirus disease 2019 (Covid-19) and the accelerated e-commerce adoption. /