16 June, 2016
RHTLaw Taylor Wessing and Taylor Wessing launched its fifth Global Intellectual Property Index (“GIPI5”), in which Singapore was highly ranked in the latest index.
The Global Intellectual Property Index (“GIPI”) is the most comprehensive assessment of how intellectual property regimes around the world compare with each other. As business success is more dependent than ever on the effective management and protection of its intellectual property, the growth industries of today are intrinsically linked to those that are IP-rich and IP-intensive, such as new technologies, high-end design and media content.
The latest GIPI5 index assessed the regimes of 43 jurisdictions, using more than 8,500 individual assessments from senior industry figures, balanced with 61 objective factors.
Singapore has leapfrogged to 9th position this year, from 12th position in the previous GIPI survey. Jurisdictions were assessed and rated in relation to obtaining, exploiting, enforcing and attacking five key IP rights: trade marks, patents, copyright, design and data protection. Notably, Singapore led the field amongst ASEAN countries in its ranking on the patent index while also ranking 5th among the 43 jurisdictions in terms of copyright enforcement, cost-effectiveness, and exploitation.
Roland Mallinson, partner and editor of GIPI5 commented: "The ever-growing value and role that IP has to play in our economies is receiving increasing recognition. Having a credible and effective IP regime is increasingly recognised as a stimulus for home-grown innovation and investment.”
"It is crucial that all IP regimes are reviewed and updated on a constant basis. Those that are not will hamper the innovation, entrepreneurialism and competiveness of their domestic businesses and discourage inward investment into their countries."
Jonathan Kok, Head of Intellectual Property & Technology at RHTLaw Taylor Wessing said, “It is very encouraging to see the level of IP protection in Singapore improve over the years. As we move to a future driven by knowledge and innovation, it is even more critical for Singapore companies to continue supporting and protecting IP, and to ensure that our businesses and investors remain confident and committed to protect IP in Singapore and the region.”
“IP is a key driver of Singapore’s economy, and having a business-friendly IP regime has been instrumental to our growth. With the robust IP ecosystem Singapore has created, businesses can continue to leverage on IP to create added value from their technology, brands and content,” he added.
GIPI5 adds seven new countries and highlights some of the key themes across IP regimes including increasing harmonisation and the cost-effectiveness of litigation. Those countries that deliver a functioning, efficient, fair, predictable and transparent IP regime are likely to be those that will benefit most from the increasing investment being made in the field.
Previous editions of GIPI have attracted widespread comment, been referred to by IP creators and users, as well as public officials and legislators. This latest report reflects on a number of high-profile changes in the law since the last report, GIPI4, which was issued in November 2013.
To view GIPI5, please click here. To request a hard copy please click here.
