Invention Incentives and Support Act

Emphasizes the priority of invention and its application in national productivity and welfare.
Government committed to fostering a supportive climate for invention and innovation.
Inventors who demonstrate creativity and nationalism are entitled to incentives and assistance.

"Invention" includes patented machines, products, processes, utility models, and industrial designs.
"Inventor" includes patentees, heirs, or assignees of patent holders.
"Technology" encompasses applied scientific knowledge, inventions, and innovations.
"Department" refers to the Department of Science and Technology.
"Institute" refers to the Technology Application and Promotion Institute.
"Patent Office" means the Bureau of Patent, Trademark and Technology Transfer.
"RDI" means the Research and Development Institute of the Department of Science and Technology.

Cash rewards are given for patented inventions under four categories: Inventions, Utility Models, Industrial Designs, and Creative Research.
Specific award amounts range from ₱100,000 for top inventions to ₱5,000 for third prizes in creative research.
Provincial awardees receive round-trip ticket and daily allowances.
Winners may be sponsored for foreign exposure trips based on Screening Committee's recommendation.
The Screening Committee can adjust awards subject to Institute approval.

Inventors certified by the Filipino Inventors Society and Screening Committee exempted from license fees, permit fees, and business taxes during commercial manufacture.
Application fees for invention registration are also exempt.

Income from technologies developed locally or adapted from abroad is exempt from all taxes for ten years from first sale.
Exemption extends to legal heirs and assignees upon inventor's death.
Manufacture or sale of such technologies exempt from license fees, permits, customs duties, and import charges.

Established from 12% of Institute's annual funds plus donations for supporting inventors in prototype and experiment phases.
Administered by the Institute, assisted by an advisory board of inventors.
Donations to the Fund enjoy tax-exempt or deductible status.

Facilitate inventor access to RDI and other government facilities, requiring royalty-sharing to maintain labs.
Accredits and recognizes inventor organizations.

Uses existing IGF to finance and guarantee loans for patented Filipino inventions certified by Filipino Inventors Society and Screening Committee.
Appropriations and interest earnings supplement the Fund.
Mandated annual budget allocation of at least ₱10 million to the Department of Science and Technology.
Can finance special programs supporting Filipino inventions.

Loans extended for commercial production of certified inventions promoting national economic benefits.
IGF guarantees these loans.
Loans up to ₱200,000 granted without real estate collateral under conditions; higher loans require 15% equity and acceptable collateral.
For export, loans up to 80% of foreign letter of credit value granted, subject to assignment of credit and documentation of production.

Required to assist in feasibility studies, evaluations, and product development to support inventor loan applications.

Institute to promulgate necessary rules with Department Secretary approval and Filipino Inventors Society consultation.
All relevant issuances and acts affecting third parties require publication before effectivity.