Illustrative image (Source: AFP)
Singaporean and global businesses now can fast track their applications for patent protection in numerous markets via Singapore from September 1 as the country began operating as ASEAN’s first International Patent Search and Examination Authority under the Patent Cooperation Treaty (PCT).

In its press release, the Intellectual Property Office of Singapore (IPOS) said that Singapore is the fifth in Asia, after China, India, Japan and the Republic of Korea, joining a group of 19 IP offices worldwide that have been appointed as international authorities for the PCT.

Patent applicants to Brunei, Japan, Mexico, Laos and Vietnam will be the first to gain access to Singapore’s new service in the coming months.

According to the IPOS, Singapore is selected by the PCT thanks to its responsiveness, with a total time of around 60 days for most cases, in comparison with two to three years of waiting time for similar responses from other IP offices.

Patent applicants will also enjoy rebates of up to 75 percent when making a PCT application through IPOS, which is another step towards building a creative and innovative Singapore with IP.-VNA