IPOS is one of the "World's Most Innovative IP Offices"
03 Mar 2017 – Singapore scored in a recent “World’s Most Innovative IP Offices” study conducted by distinguished trade publication, World Trademark Review (WTR). The study was based on trade mark filling activity from the top 40 trade mark offices around the world, amongst other key indicators. While an efficient and cost-effective trade mark examination system remains an important measure of success, additional non-core services such IP legal advice for SMEs and the availability of e-filing services have become important considerations in today’s innovation-driven economy.
Highlights of Singapore’s achievements include IPOS’ success as one of two IP offices in the world to offer cutting-edge financial services, such as the IP Financing Scheme (IPFS). This scheme, introduced in 2014, helps IP-rich companies monetise their IP for business growth and expansion. Aside from allowing companies to use patents as collaterals for bank loan applications, Singapore’s IPFS broadened to include copyrights and trade marks. Chief Executive of IPOS, Mr Daren Tang, affirming this move, explained that “a company’s value is often found in its portfolio of intangible assets”. IPFS is one of many schemes and initiatives introduced by IPOS to help businesses take their technology, brands and content to the world.
Other factors that contributed to Singapore’s top ranking, second only to the European IP Office, also include its one-stop online platform for IP registration, as well as its strong public outreach efforts in raising IP awareness through direct engagements with the public and social media.
Overall, IPOS’ larger efforts in supporting the broader innovation ecosystems have been recognised, along with other IP offices that have evolved to take on the role of an innovation agency. IPOS is on track in its commitment to be a global IP partner that helps drives innovation for Singapore’s long-term growth and success.