MinLaw to develop IP Hub Masterplan
Ivan Chew
we start a dialogue with the relevant authorities as they start their
review?
From http://www.gov.sg/government/web/content/govsg/classic/subsite/budget2012#10
MINLAW
Tuesday, 6 March 2012
Developing Singapore as an Intellectual Property Hub
"Minister K Shanmugam said that MinLaw's ambition is to develop
Singapore as an intellectual property (IP) hub for Asia. He said that
Singapore's IP regime has been consistently ranked amongst the best in
the world by the World Economic Forum. However, to progress further,
an IP Steering Committee will be convened to study and develop the IP
Hub Masterplan. The committee will look into developing a vibrant
marketplace for IP transactions and commercialisation as well as
building world-class IP capabilities and infrastructure."
From: http://www.channelnewsasia.com/stories/singaporelocalnews/view/1187313/1/.html
6 Mar 2012
SINGAPORE: With the growing emphasis on intellectual property (IP),
the Law Ministry has announced plans to develop Singapore into Asia's
IP Hub and a committee will be tasked to look into this.
Speaking in Parliament during the Committee of Supply Debate, Law
Minister K Shanmugam explained that IP has become an important part of
the global economy.
This, as the value of intangible assets for S&P 500 companies, of
which IP is a major component, is about 80 per cent. 30 years ago, it
was just 17 per cent.
Mr Shanmugam added that over the last decade, patent and trademark
filings have increased by over 40 per cent worldwide. This meant that
worldwide royalty and licensing revenue has more than doubled to over
US$200 billion.
With well-developed legal and financial systems and a workforce
comfortable with science and technology, Singapore is poised to ride
on this trend. Still, the country has a small domestic market, but
Singapore can get around this by becoming Asia's IP Hub.
Since 2006, Singapore's IP regime has been consistently ranked amongst
the best in the world by the World Economic Forum and the IMD.
To progress further, the law ministry will convene the IP Steering
Committee to study and develop the IP Hub Masterplan. It will be
headed by the former Chairman of the Economic Development Board, Mr
Teo Ming Kian.
The committee will look into developing a vibrant marketplace for IP
transactions and commercialisation, as well as building world-class IP
capabilities and infrastructure.
Mr Shanmugam said: "The committee will recommend strategies to develop
Singapore as a marketplace of choice to transact IP, and attract
international firms and professionals who provide IP transactional
services. For example, licensing and brokerage. The committee will
also incentivise the creation, management and exploitation of IP in
Singapore."
Mr Shanmugam said the move is expected to benefit local companies.
Responding to MP Pritam Singh's question about conducting a review of
measures to address online piracy, and the implications of Singapore's
Free Trade Agreements, the minister said a review is now in progress.
Mr Shanmugam explained the importance of the review: "Singapore has
one of the highest incidences of online digital piracy in the Asia
Pacific region. According to various studies from rights holders, it
has been estimated that Singapore had over 300,000 incidences per
month of illegal downloading on average."
He added that Singapore has already fulfilled all its obligations
under its FTAs with regard to copyright protection, so any new measure
to be implemented will be assessed based on national interest.
On the issue of IP dispute resolution, which was raised by MP Vikram
Nair, Mr Shanmugam said that IP dispute resolution capabilities must
grow in tandem with the growth of IP transactions. For example,
pre-trial matters are heard by specially IP-trained registrars since
last year at the Supreme Court.
While any High Court Judge may be able to handle IP cases, the
minister said the court has recently announced the formal designation
of judges with considerable experience and expertise in IP cases, as
IP Judges.
The ministry also wants to enhance Singapore's patent regime, which is
currently based on a self-assessment system. This means patents can be
granted even if objections are raised in the examination report.
The government hopes to move towards a positive grant system where
patents will be granted only if patentability requirements are fully
met.
The ministry will make further announcements over the next few months
as the various initiatives are rolled out.
-CNA/ac
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Harish Pillay
> Would Creative Commons be part of the overall IP review? Or, how can
> we start a dialogue with the relevant authorities as they start their
> review?
Yes. We MUST be part of this discussion. There are serious repercussions
on not participating or engaging. We should also work on the principle that
all our dealings and meetings should be publicly available - not behind secret
walls like the ACTA dealings.
I will be happy to lead this.
Harish
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