Turkish Patent and Trademark Office (TURKPATENT) has established a public company for commercializing the industrial property rights, i.e. patents, utility models, trademarks, designs and geographical signs. The company is named "Turkish Industrial Property Valuation and Consulting Engineering Services Inc. (TÜRKSMD).”

In an interview with Anadolu Agency, the President of TURKPATENT has stated that Turkey has currently 1 million 600 thousand registered industrial property inventory and they are passively staying on the shelves and have not been passed on to the real sector, the established companies will contribute to the transfer to the real sector of the property products.

The objective of TÜRKSMD is to assess industrial property assets of the real and legal entities and ensure commercialization of the patented work growing out of R & D.

Ankara-based Company will provide the following services:

• Providing venture capital, investment trusts, funds, and joint finance to the start-ups supported by angel investors.
• Providing valuation and consultancy services in the field of industrial property, training and accreditation activities for institutions, organizations and initiatives, and expertise services in valuing industrial property rights.
• Preparing feasibility reports for the selection of computer software and hardware for the public, private and legal entities and will provide R & D activities, engineering, consultancy, training, support and service.
• Providing all kinds of engineering services both in Turkey and abroad. TÜRKSMD will provide engineering services for the creation, development and revision of the intellectual and industrial rights, and will carry out the processes by providing advisory services within the registering and protection of the rights.
• Providing consulting services to government agencies, legal entities and real persons through the provision of national and international information on commercial and industrial relations, patents, utility models, trademarks, industrial rights, human relations, business administration, marketing, investment, globalization and finance.
• Conducting researches and preparing reports about the services in foreign countries and will provide consultancy services in the field of software consultancy, patent and trademark valuation services in view of the fields of international law and trade.

In order to realize its aims, TÜRKSMD will establish all kinds of partnerships with domestic and foreign capital companies at home and abroad.

TÜRKSMD will be able to enter the tender in and out of the country and use its rights by establishing facilities, buying, selling, renting businesses, exporting, importing goods and undertaking the projects. The Company will be also able to register and sell these licenses, patents, trademarks, designs and business rights, both directly and indirectly, on behalf of the Company, by the contracts.