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Will Singapore be the next Intellectual Property Hub?

Here comes the time for Signapore to celebrate for their precious victory. It has finally come up with  its 2017 Intellectual Property Week by signing a Memoranda of Understanding with Deloitte to assist 100 promising enterprises turn their ideas in to assets. More than anything else, Singapore had always focused on turning on it’s people’s ideas and protecting them over years for them to come with some huge great plan which can stand up as their asset.

The country believes that the people are the most important resources for unlocking the future technologies which would result in the vast development of their country. So it means a lot to safeguard their ideas and make them feel safe about their invention, and this was the reason why IP was always included in their economic plan.

The country’s high promising and tough protection on the matter on IP has determined and attracted many businessman to come up with their plans and inventions to register in The Intellectual Property Office of Singapore which as a result brings high-paying jobs and incentivizes innovation at homes of the island. In turn, it brings prosperity along with the sense of moral values to the mass.It’s a winning path. Numerous studies throughout the world confirm that countries with the strongest IP protections have more full-time researchers; attract greater investments in R&D and Foreign Direct Investment; and employ large portions of their workforce in higher paying IP-intensive industries. In fact, income per capita is thirteen times greater in countries with strong IP protections than the those with weak protections.

Singapore consistently ranks among the best in the world for its IP environment. The International Property Rights Index, which ranks countries according to their protection of physical and intellectual property rights, reported this year that Singapore is the best in the region for protection of IP rights, beating out its neighbor New Zealand which was ranked first overall. So, it can be very well assumed that Singapore is already doing a great job for it’s people and is standing as an example for the rest of the world. In no time, this country can win any achievement with their kinds of plans and execution. It has very well diminished corruption and has promoted the sense of planning something good – big or small,for the country, in the minds of it’s people. This in result brings welfare of the economy of the country along with it’s people and also a sense of positivity and efficiency.

SOURCES:

  • Forbes
  • Citusmind

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