Sunday, 16 June 2019

Singapore ranks 10th on 2019 U.S. Chamber International IP Index

08 February 2019 | News

The Index can serve as a roadmap for Singapore’s government to take further steps to improve the IP environment in order to make Singapore one of the most globally competitive economies in the world.

The U.S. Chamber of Commerce’s Global Innovation Policy Center (GIPC) has released its seventh annual International Intellectual Property (IP) Index, “Inspiring Tomorrow,” which analyzes the IP climate in 50 world economies, including 15 markets in Asia. The report ranks economies based on 45 unique indicators that are critical to an innovation-led economy supported by robust patent, trademark, copyright, and trade secrets protection.

Singapore ranks 10th on the 2019 U.S. Chamber International IP Index. Singapore has been included in the last six editions of the Index, and each year the Index illustrates how Singapore continues to invest in creating a more robust and effective IP framework. The Index can serve as a roadmap for Singapore’s government to take further steps to improve the IP environment in order to make Singapore one of the most globally competitive economies in the world.

Singapore’s overall score has decreased from 83.63% (33.45 out of 40) in the 6th edition to 82.49% (37.12 out of 45) in the 7th edition. This reflects, on the one hand, a mixed performance on the new indicators added, with Singapore underperforming its Index average on several new indicators. On the other hand, Singapore saw a score increase on indicator 10 as a result of stronger copyright enforcement.

The government of Singapore can use its position as a global IP leader to help create more effective IP policies in other countries in the region, through regional free trade agreements, and within the multilateral organisations.

Key points:

  • Since 2014, Singapore passed amendments to the Copyright Act to strengthen the online enforcementto better protect creative and innovative industries from copyright infringement online.

 

  • Over the last year, the High Court utilized the provisions of the Copyright Act to bolster enforcement against online piracy, which resulted in an increase in Singapore’s score in that indicator.

 

  • Additionally, Singapore ranks first in the Index patent indicators, as a result of it’s a long-standing and robust patent environment.

 

  • The 2019 Index demonstrates that countries that embrace strong IP protection are more likely to attract more venture capital, foreign investment, and private sector investment in R&D.

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