“Every advantage has its own disadvantage”. This applies to the recent problem faced by several countries because of the development of the Internet. Intellectual Property is an intangible and integral asset to a company . In Singapore IP covers patents, trademarks, copyright, registered designs, plant varieties protection, geographical indications, trade secrets and layout-design of integrated circuits. We want to develop new legal tools to protect global intellectual property rights without jeopardizing the openness of the Internet.
We are ranked second in the world and top in Asia for having the best IP protection according to the World Economic Forum. Singapore is proactively blocking the websites caught committing piracy and these ‘pirates’, are fined $10,000.
In April 2013, the Singapore government accepted the recommendations of the IP Steering Committee to develop Singapore into a Global IP Hub in Asia. This 10-year master plan proposed strategies for developing a vibrant IP sector in Singapore. Given Singapore’s strengths in having a world-class IP infrastructure, high quality workforce, and strategic geographical location, Singapore is well-poised to become an IP hub of Asia.
WIPO has established an Arbitration and Mediation Centre (AMC) in Singapore, its only centre outside Geneva, to support IP dispute resolution in Asia.
However, the inherent value of Singapore’s media and entertainment industries still remains under attack from online piracy. Creators still fear their property rights and copyright laws are in danger. As per a recent survey only 40% of people had heard of the concept of intellectual property rights in Singapore and this must be changed. Consumer understanding of and respect for copyright is a key factor in combating online piracy.
Making legal content available to consumers through a convenient platform and at a reasonable price can reduce demand for infringing alternatives. Through a survey conducted by IP Academy, 64%...