A Strong IP Regime to Propel Singapore's Economy Forward
As the world emerged from the global financial crisis in 2010, Singapore witnessed a positive rebound in economic growth. Our GDP grew by a record 14.5 percent in 2010, and continued to post a healthy growth of 8.3 percent year-on-year for the first quarter of 2011*. This is thanks in part to Singapore’s strong IP regime, which has become one of our key competitive advantages and attracted multinational corporations such as Proctor & Gamble and global broadcasters such as Home Box Office (HBO) to set up their Asian headquarters here.
According to the World Intellectual Property Organization, IP-related commerce is currently worth an estimated US$300 billion worldwide annually. Indeed, in today's globalised world, intellectual assets will become increasingly important as economic growth drivers. To propel our economy forward, we need to compete not so much on costs and efficiency alone, but more on ideas, knowledge and innovation. Singapore’s ability to create, exploit and manage IP will therefore be critical for its competitive edge.
To derive economic benefits for Singapore, IPOS has helped build a robust and business-friendly IP regime benchmarked against the best in the world. Through MOUs and FTAs, IPOS’ active engagements in the international IP fora have contributed significantly to Singapore’s position as a secure and attractive destination for business investments. In 2010, we concluded the Singapore-Costa Rica Free Trade Agreement and the multilateral Anti-Counterfeiting Trade Agreement (ACTA). IPOS also places great importance to our engagements with partners such as the World Intellectual Property Organization and IP offices of other countries. Such international collaborations have enabled us to keep our IP regime up-to-date and relevant through the sharing and learning of best practices with our IP partners from around the world.
IPOS also pursued cooperation initiatives with foreign counterparts to facilitate local entities looking to file for patent and trade mark protection abroad. In 2010, IPOS extended its Patent Prosecution Highway agreements with the Japan Patent Office (JPO) and the United States Patent & Trade Mark Office (USPTO). In addition, IPOS signed a Memorandum of Cooperation with the USPTO, JPO and the Office for the Harmonization of the Internal Market (collectively known as the Trilateral Partners) to validate an agreed list of goods and services acceptable or otherwise in these jurisdictions. This cooperation benefits applicants filing for trade mark protection in two or more of these jurisdictions, saving time and cost.
IPOS has also established itself as a constructive player on the international IP scene. We successfully co-organised several high profile international events, including the 4th China-Singapore Intellectual Property Conference held in September 2010, the 8th Europe Asia Patent and Patent Information Conference (EAP2IC) held in October 2010, and also supported the 3rd Global Forum on Intellectual Property (GFIP) held in January 2011. These events brought together thought leaders and IP practitioners to explore current IP developments and share insights on critical IP issues and trends in today's knowledge-based economies.
I am heartened to note that IPOS' efforts have been recognised and Singapore has been ranked as having one of the world's best IP regimes. In 2010, the World Economic Forum (WEF)'s Global Competitiveness Report and the International Institute for Management Development (IMD)'s World Competitiveness Yearbook ranked Singapore amongst the top five countries in the world in terms of IP protection. In addition, the Political and Economic Risk Consultancy (PERC) ranked Singapore top in Asia in terms of IP protection in their latest survey.
On this note, I would like to thank all IPOSians, past and present Board of Directors and all stakeholders for the unstinting support and dedication in ensuring that Singapore stays globally competitive in the international IP arena. I would like to especially thank Ms Liew Woon Yin for leading IPOS in the IP journey for the past ten years. As many of you would have known, Ms Liew has stepped down as Director-General of IPOS with effect from 1 June 2011. Under Ms Liew's stewardship, IPOS has helped shape an IP landscape in Singapore that is strongly conducive for innovation and investment. Going forward, a new chapter has opened in Singapore's IP journey, and I welcome BG (NS) Tan Yih San as the new Chief Executive to lead IPOS into the next phase of development.
I am confident that IPOS will continue to play a significant role in Singapore’s growth story!
Mr Quek Tong Boon
Chairman
Intellectual Property Office of Singapore
*Source: Budget speech 2011 and Economic Survey of Singapore First Quarter 2011
As the world emerged from the global financial crisis in 2010, Singapore witnessed a positive rebound in economic growth. Our GDP grew by a record 14.5 percent in 2010, and continued to post a healthy growth of 8.3 percent year-on-year for the first quarter of 2011*. This is thanks in part to Singapore’s strong IP regime, which has become one of our key competitive advantages and attracted multinational corporations such as Proctor & Gamble and global broadcasters such as Home Box Office (HBO) to set up their Asian headquarters here.
According to the World Intellectual Property Organization, IP-related commerce is currently worth an estimated US$300 billion worldwide annually. Indeed, in today's globalised world, intellectual assets will become increasingly important as economic growth drivers. To propel our economy forward, we need to compete not so much on costs and efficiency alone, but more on ideas, knowledge and innovation. Singapore’s ability to create, exploit and manage IP will therefore be critical for its competitive edge.
To derive economic benefits for Singapore, IPOS has helped build a robust and business-friendly IP regime benchmarked against the best in the world. Through MOUs and FTAs, IPOS’ active engagements in the international IP fora have contributed significantly to Singapore’s position as a secure and attractive destination for business investments. In 2010, we concluded the Singapore-Costa Rica Free Trade Agreement and the multilateral Anti-Counterfeiting Trade Agreement (ACTA). IPOS also places great importance to our engagements with partners such as the World Intellectual Property Organization and IP offices of other countries. Such international collaborations have enabled us to keep our IP regime up-to-date and relevant through the sharing and learning of best practices with our IP partners from around the world.
IPOS also pursued cooperation initiatives with foreign counterparts to facilitate local entities looking to file for patent and trade mark protection abroad. In 2010, IPOS extended its Patent Prosecution Highway agreements with the Japan Patent Office (JPO) and the United States Patent & Trade Mark Office (USPTO). In addition, IPOS signed a Memorandum of Cooperation with the USPTO, JPO and the Office for the Harmonization of the Internal Market (collectively known as the Trilateral Partners) to validate an agreed list of goods and services acceptable or otherwise in these jurisdictions. This cooperation benefits applicants filing for trade mark protection in two or more of these jurisdictions, saving time and cost.
IPOS has also established itself as a constructive player on the international IP scene. We successfully co-organised several high profile international events, including the 4th China-Singapore Intellectual Property Conference held in September 2010, the 8th Europe Asia Patent and Patent Information Conference (EAP2IC) held in October 2010, and also supported the 3rd Global Forum on Intellectual Property (GFIP) held in January 2011. These events brought together thought leaders and IP practitioners to explore current IP developments and share insights on critical IP issues and trends in today's knowledge-based economies.
I am heartened to note that IPOS' efforts have been recognised and Singapore has been ranked as having one of the world's best IP regimes. In 2010, the World Economic Forum (WEF)'s Global Competitiveness Report and the International Institute for Management Development (IMD)'s World Competitiveness Yearbook ranked Singapore amongst the top five countries in the world in terms of IP protection. In addition, the Political and Economic Risk Consultancy (PERC) ranked Singapore top in Asia in terms of IP protection in their latest survey.
On this note, I would like to thank all IPOSians, past and present Board of Directors and all stakeholders for the unstinting support and dedication in ensuring that Singapore stays globally competitive in the international IP arena. I would like to especially thank Ms Liew Woon Yin for leading IPOS in the IP journey for the past ten years. As many of you would have known, Ms Liew has stepped down as Director-General of IPOS with effect from 1 June 2011. Under Ms Liew's stewardship, IPOS has helped shape an IP landscape in Singapore that is strongly conducive for innovation and investment. Going forward, a new chapter has opened in Singapore's IP journey, and I welcome BG (NS) Tan Yih San as the new Chief Executive to lead IPOS into the next phase of development.
I am confident that IPOS will continue to play a significant role in Singapore’s growth story!
Mr Quek Tong BoonChairman
Intellectual Property Office of Singapore
*Source: Budget speech 2011 and Economic Survey of Singapore First Quarter 2011
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