The IP Hub for the Region

Singapore recognises the importance of Intellectual Property (IP) as a strategic asset for companies to sharpen their competitive edge in today's global market. In its efforts to remain competitive both today and in future, Singapore has chosen to position itself as the IP hub of the region.

To realise this vision, the Economic Development Board, the Ministry of Law and the Intellectual Property Office of Singapore have been working in tandem with the Ministry of Trade and Industry and other economic agencies to put in place a legislative and policy framework to develop Singapore as an IP hub, attractive for companies, IP professionals and other individuals to congregate, create and exploit IP. The IP Hub will provide IP rights owners with a one-stop shop to manage their IP and will cater to needs as diverse as IP protection, IP Litigation/Arbitration, Technology Intelligence, IP brokering, Branding, IP Valuation and IP Securitization. Among other factors that make Singapore an ideal location for such an endeavour, is the fact that it was ranked the most IP-protective country in Asia by the Political & Economic Risk Consultancy Ltd, 2002.

Two categories of IP rights owners are being wooed by the government - one, local companies/ research institutes, and two, foreign companies/ multinationals. While most foreign companies are already IP-savvy, local firms need to be educated about the value of IP. The Intellectual Property Office of Singapore has already contributed significantly to raising awareness about IP in Singapore. The media has also kindled the layperson's interest by...