9 March, 2017
The latest amendments to the Intellectual Property Office of Singapore's ("IPOS") fees will come into force from 1 April 2017. As part of IPOS's efforts to drive innovation in Singapore, IPOS will reduce its filing fees for patent and trademark protection.
The fees for a patent search and examination reports will also be reduced. In addition, brand owners applying for trademarks using a pre-approved list of goods and services will enjoy a 30% discount. Additionally, the amendments include an increase in fees for renewing patents (an increase of 37%) and trademarks (an increase of 52%). These are aimed at discouraging the practice of IP hoarding.
This fee increase however is not all bad news for patent owners as those who are willing to offer their patents for licensing will continue to enjoy a 50% discount for renewal fees. Meanwhile, patent owners who release their patents will enjoy a waiver of the administrative costs for doing so.
Therefore, while the estimated life cycle costs for filing patents and trademarks in Singapore will rise slightly, they remain competitive when compared to rates in major jurisdictions. For instance, Singapore still charges lower life cycle costs for patents and trademarks as compared to major jurisdictions such as Korea, Japan, China, USA, Australia and the UK.
Overall, taking into account the fee revisions, Singapore continues to offer internationally competitive fees. Rights holders who want to build a competitive edge through IP will be encouraged to know that IPOS has taken steps to address the right holders' cost concerns and to help them in the midst of a challenging business environment.
For further information, please contact:
Andy Leck, Principal, Baker & McKenzie.Wong & Leow
andy.leck@bakermckenzie.com
