Hong Kong played host to a World Intellectual Property Organization (WIPO) regional symposium on Thursday to promote the concept of intellectual capital management among small and medium enterprises.

The two-day symposium, on management of intellectual capital, intellectual assets and intellectual property was organized by the WIPO and the State Intellectual Property Office of China, and hosted by the Intellectual Property Department of the Hong Kong Special Administrative Region (HKSAR) government.

The participants, numbered around 200, included scholars and representatives from intellectual property-related organizations and small and medium enterprises in the Asia-Pacific region and representatives from intellectual property offices of more than 20 countries and regions in the region.

Yvonne Choi, permanent secretary for commerce and economic development of the HKSAR government, said enterprises in the Asia- Pacific region can benefit from adopting the concept of intellectual capital management.

"With a better idea of their asset portfolio, enterprises are better positioned to devise their strategy for creating value," she said.

Stehpen Selby, director of intellectual property of the HKSAR government, said he had found that leaders of many of the local small and medium enterprises were not able to list the intellectual capital their companies have.

Choi said the Intellectual Property Department of the HKSAR government, together with the Innovation and Technology Commission and the Trade and Industry Department, launched a consultancy program in March to add to the competitiveness of local businesses.

Intellectual capital comprises human resources capital, structural capital and relational capital that can add to the value and create wealth for the company.