Singapore reduces filing fees for IP protection from April 1

Businesses and entrepreneurs will enjoy substantial cost savings when they file for patent and trade mark protection with the Intellectual Property Office of Singapore (IPOS) through lowered application fees, effective April 1, 2017.

This is part of IPOS' efforts to support innovators and make IP protection more affordable, in keeping with its vision to help drive innovation in Singapore.

"Singapore's innovation scene is becoming more vibrant, with more companies and start-ups seeking to create business value through IP.

"The fee revisions make it easier and cheaper for them to protect their brands and technology," said Chief Executive of IPOS, Daren Tang in a statement today.

"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," he said.

IPOS reviews its fees regularly to keep them competitive with other countries, and encourage domestic innovation.

From April 1, fees will be reduced by between 14 per cent and 27 per cent for anyone requesting for patent search and examination reports.

In addition, brand owners applying for trademarks using a pre-approved list of goods and services will enjoy a substantial 30 per cent discount.

Meanwhile, Patent Attorney of Davies Collison Cave, Desmond Tan said given the current uncertain economic and political outlook, the fees review is timely.

"Clients who want to build a competitive edge through IP in today's highly globalised innovation economy will be encouraged to know that IPOS has taken steps to address their cost concerns and help them in the midst of a challenging business environment," he said.

To discourage IP hoarding, which can stifle innovation, fees for renewing patents and trademarks will see an upward adjustment at the rate of 37 per cent for patents and 52 per cent for trademarks, the first in about a decade for trademarks.

At the same time, patent owners who are willing to offer their patents for licensing will continue to enjoy a 50 per cent discount in patent renewal fees.

It will encourage IP owners to actively use their patents, or consider releasing them to the public domain, so as to fuel further innovations.

IP owners who release their patents will enjoy a waiver of the administrative costs for doing so.

Overall, the fees adjustment will result in a net cost reduction for businesses and brand owners, when the various stages in the life cycle of protecting an invention or a trademark are considered.

With the fees adjustment, Singapore remains as one of the most attractive countries for IP filing, with competitive rates compared with other major jurisdictions such as South Korea, Japan, China, the US and Australia. -- BERNAMA