Singapore as a nation has always prided itself on being just as business friendly to the global community as humanly possible, and a recent decision by the government of Singapore regarding the process for searching and applying for patents are going to make it even friendlier for enterprises and individuals.
The Intellectual Property Office of Singapore (IPOS) has now been appointed as a competent International Searching Authority and International Preliminary Examining Authority, appointments that were made during the 55th World Intellectual Property Organization held recently in Switzerland.
There are going to be a handful of fundamental changes throughout the entire patent searching and patent filing process in Singapore, but overall these fundamental changes are going to make the overall process significantly more streamlined and a lot easier for companies, investors, and inventors to patent their ideas and then roll out the technology built on the back of them.
The appointment made in Geneva is going to increase rebates upwards of 75% on all Patent Cooperation Treaty filing fees, while at the same time making sure that people are able to file a PCT through the new IPOS system.
This is going to expedite the process dramatically, but it’s also going to make it a lot cheaper for businesses in Singapore to take advantage of the Patent Cooperation Treaty. This offers better global protection for ideas and technology, but it also allows people to leverage all of the resources that the PCT has to offer as well.
The United States Patent and Trademark Office and the Directorate Gen. of Intellectual Property of Indonesia mortgage related significantly to this new appointment, and allows individuals, organizations, and operations in Singapore to file patents in each of those respective markets. This is going to open up a live extra opportunity for businesses that weren’t able to take advantage of all the leverage that patents in those two major organizations hold, giving people in Singapore the opportunity to improve their businesses and their chance to compete on a global scale significantly.
New markets that are going to open up include the US market, Indonesia, Vietnam, Mexico, Japan, and Laos, each of them already members of the Patent Search and Examination services that are now part and parcel of the new IPOS. Combine that with the more than 30 countries that Singapore has already had an active partnership with as far as patents are concerned, and we’re talking about a significant amount of extra commerce opening up almost overnight.
Businesses and individuals are going to have access to much more powerful and robust search tools that allow them to quickly navigate the patent landscape. They are also going to be able to quickly file for a patent and enjoy patent protection under these new terms that simply weren’t going to be available otherwise.
All in all, this is a major victory for the people of Singapore and everyone that conducts business out of this amazingly business friendly nation. This is great news indeed!