BIP Director Vincentia Rosen-Sandiford and TEATT Minister Stuart Johnson.
PHILIPSBURG--The Bureau of Intellectual Property on Tuesday presented the organisation’s 2017 financial statement to Minister of Tourism, Economic Affairs, Traffic and Telecommunication (TEATT) Stuart Johnson for approval.
BIP’s financial statement is themed: “moving forward through the storm.”
This month marks the third official year of the Bureau since the National Ordinance BIP went into effect and consequently the operations of the Bureau on October 1, 2015. Additionally, the Bureau as of date has submitted four multi-annual budgets and policy plans. The Bureau intends to submit the Multi-Annual Budget and Policy plan for 2019-2023 before the end of this year. The Bureau’s financial reporting will then be up to date.
“I have approved the 2015 and 2016 financial statements of the Bureau earlier this year and I intend to finalise the review and subsequently approve the 2017 financial statements within short. Once this has been completed the Bureau can transfer its surplus, after deduction of reserves, to government’s coffers,” Johnson said in a press release issued late last night.
Johnson said he was proud to see that BIP is “doing well after the setbacks caused by hurricanes Irma and Maria in 2017.”
The Bureau registers trademarks and provides information about other areas of intellectual property, such as patents and copyright, to the public. More information regarding the Bureau and its services can be found on www.bip.sx.
