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Singapore ranks 10th on US Chamber’s International IP Index
Recognized as a global leader in online copyright enforcement
WASHINGTON, D.C. – The U.S. Chamber of Commerce’s Global Innovation Policy Center (GIPC) today released its seventh annual International Intellectual Property (IP) Index, “Inspiring Tomorrow,” which analyses the IP climate in 50 global economies. 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, which is consistently one of the top-performing Asian countries, ranks 10th on the Index this year, ahead of South Korea, China, and the other Southeast Asian economies included in the report.
“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”, said Ellen Szymanski, executive director, international policy at GIPC. “While Singapore is already a global leader in online copyright enforcement, through a series of precedent-setting court cases, Singapore again showed its commitment to strengthen protection against pirated content online.”
The U.S. Chamber International IP Index demonstrates that countries that embrace strong IP protection, like Singapore, are more likely to attract more venture capital, foreign investment, and private sector investment in R&D. 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 has emerged as global leader in patent protection, ranking first in patents in the Index,” added Szymanski. “Singapore has an advanced national IP framework in place. We hope that the Singapore government can use its position as a global IP leader to help pursue more effective policies in other countries in the region. Opportunities through regional free trade agreements, and within the multilateral organizations provide a platform for Singapore to show off this robust model for fostering innovation and creativity. Minor changes to Singapore’s transparency and data disclosures on customs seizures of IP-infringing goods for example is a logical next step for the country as it builds as system that other countries can emulate.”
The full Index can be viewed at www.uschamber.com/IPIndex.