SINGAPORE: Application fees to file for patent and trade mark protection or request for a patent search report will be lowered from Apr 1 this year, said the Intellectual Property Office of Singapore (IPOS) on Wednesday (Feb 2).
According to IPOS, fees are “regularly” reviewed to keep them competitive with other countries and to encourage domestic innovation. “This is part of IPOS’ efforts to support our innovators and make intellectual property (IP) protection more affordable for them, in keeping with our vision to help drive innovation in Singapore,” the statutory board said in a news release.
It also said brand owners applying for trademarks using a pre-approved list of goods and services will enjoy a “substantial” 30 per cent discount, while those willing to offer their patents for licensing will continue to enjoy 50 per cent discount in patent renewal fees.
Fees for renewing patents and trade marks will, however, see an upward adjustment – the first in about a decade for trademarks. IPOS said the move is to discourage intellectual property hoarding, which can stifle innovation.
Summary of the key fee revisions by IPOS.
“Singapore’s innovation scene is becoming more vibrant, with more companies and start-ups seeking to create business value through IP,” said IPOS chief executive Daren Tang.
“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.”
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, the USA and Australia, the agency said.
