Protecting the Company Intellectual Property: How You Can Do That in Singapore
Intellectual property (IP) registration and the acquisition of IP-based assets are becoming more important components of both conducting business in Singapore and participating in the global knowledge economy. Now you can Protect Your Company’s Intellectual Property By Incorporating in Singapore now.
- It is the fundamental goal of intellectual property (IP) registration to ensure that the IP’s owner retains the only power to use, license or sell their IP. As a result, it provides you with legal protection, prevents others from using your idea or product without your consent, and allows you to benefit from them.
- There are many good reasons to register intellectual property in Singapore, therefore learning about those reasons and the laws regulating intellectual property registration in Singapore is critical if you’re thinking about setting up business there.
- Singapore’s Intellectual Property Office (IPOS) was established in March 2013 and the IP Hub Master Plan was approved the following March, making intellectual property registration in this nation a lot easier. A key objective of the IP Hub Master Plan is to turn Singapore into Asia’s intellectual property (IP) epicenter.
Intellectual property of many varieties is recognized and may be registered with the government in Singapore
Examples of intellectual property include patents, trademarks, registered designs, copyright, and trade secrets. What is the difference between these two and which one is better appropriate for your company? Keep reading to find out.
Patents are used to protect intellectual property of a technical nature, such as inventions. In this context, new medications, technological devices, and household appliances, together with newly discovered materials, might all be considered. Keep in mind, however, that patents are more concerned with the “how” an end result is achieved, rather than the ultimate result itself being achieved. As a reminder, this is a critical moment. A “device to straighten hair,” for example, cannot be patented, but the usage of “heated tongs” to accomplish the same effect may be.
To protect their idea, the Singaporean inventors who are granted a patent have twenty years to commercialize their work. For the applicant to meet this criteria, they must first submit their invention’s specifications or drawings, which will then be made accessible to the public.
“Registered designs” rather than design patents are used in Singapore in order to protect the appearance of a product rather than its function or operation. As an example, any new technology, such as new sensors, would need a patent, as well as a registered design to protect the appearance of the phone in order to deter lower-quality copies.
Registration of a design ensures that the owner of the design will be protected if more than 50 copies are to be made and sold for profit.
In Singapore, writers have legal protection
Copyrights For creative works that are literary, musical, visual, or performative, copyrights are a kind of intellectual property that are utilized to protect them. Even though patents and registered designs are not feasible solutions for safeguarding such commodities in Singapore, this form of protection may be extended to ‘useful’ objects.
For the stated duration, all copyright protection techniques will be implemented. Based on the kind of copyrighted material, this might vary. It may take up to 70 years from the year in which the author died for works of literature, drama, music, and other creative expressions, but for broadcast and cable programs, this term is limited to 50 years.