Singapore lowers filing fees for Intellectual Property Protection

Singapore has lowered the application filing fees for Intellectual Property Protection. From April 1, 2017 businesses and entrepreneurs will enjoy substantial cost savings when they file for patent and trade mark protection with the Intellectual Property Office of Singapore (IPOS) through lowered application fees.

Filing fees for Intellectual Properties Protection in Singapore reduced
The filing fees for Intellectual Property Protection has been reduced in Singapore. Photo courtesy: iPleaders blog

This is part of IPOS’ efforts to support innovators and make IP protection more affordable for them, in keeping with our vision to help drive innovation in Singapore.

It is pertinent to mention that IPOS reviews fees regularly to keep them competitive with other countries, and encourage domestic innovation.

From 1 April 2017, fees will be reduced for anyone requesting for patent search and examination reports. In addition, brand owners applying for trademarks using a pre-approved list of goods and services will enjoy a substantial 30 per cent discount. To discourage IP hoarding, which can stifle innovation, fees for renewing patents and trademarks will see an upward adjustment – the first in about a decade for trademarks.

Singapore is attractive country for IP filing
Singapore remains one of the most attractive countries for IP filing. Photo courtesy: Genstein & Muir

At the same time, patent owners who are willing to offer their patents for licensing will continue to enjoy a 50 percent discount in patent renewal fees. This will encourage IP owners to actively use their patents, or consider releasing them to the public domain, so as to fuel further innovations.

With the fees adjustment, Singapore remains as one of the most attractive countries for IP filing, with competitive rates compared to other major jurisdictions such as Korea, Japan,China,USA and Australia.

Desmond Tan, Patent Attorney of Davies Collison Cave, said, “Given the current uncertain economic and political outlook, the fees review is timely. My clients who want to build a competitive edge through IP in today’s highly globalised innovation economy will be encouraged to know that IPOS has taken steps to address their cost concerns and help them in midst of challenging environment.”

Daren Tang, Chief Executive of IPOS, said, “Singapore’s innovation scene is becoming more vibrant, with more companies and start-ups seeking to create business value through IP. The fee revisions make it easier and cheaper for them to protect their brands and technology. We hope that more of our creative enterprises and inventors will be encouraged by these changes to have a strong foundation for taking their ideas to the world.”

Author
Ashraf Jamal
Ashraf Jamal – Senior Writer

Ashraf Jamal brings a rare depth to writing equipped with a degree in journalism, a postgraduate degree in political science, and a degree in law from the Allahabad University. His experience includes editing and publishing the Northern India Patrika and writing for Times of India for almost a decade covering just about any topic under the sun including NRIs and Indian diaspora.

Comments