With intellectual property monetisation and management a core influencer of business and economic performance, Asia has established itself as a global innovation powerhouse.
Based on 2014-15 World Economic Forum data:
- Three of the world's ten most competitive countries, as ranked by the World Economic Forum, sit within Asia: Singapore (2), Japan (6) and Hong Kong (7).
- Three of the world's ten most innovative countries rest within the region: Japan (4), Singapore (9) and Taiwan (10).
Asian markets provide some of the most exciting opportunities for growth – within some of the most challenging and dynamic intellectual property frameworks.
- Many Asian countries have relatively young IP systems
- Many of their governments are still reconciling the demands of foreign trading partners, including as they relate to their rules on patents, trademarks, copyright, trade secrets and other intellectual property rights violations
- Though a large number of IP professionals practise in the region, there is significant variance and inconsistency in the degree of skill and competence on offer.
The countries in which IP protection is sought today will have a significant influence on the IP owner's well-being in the future. Fortunately, booming industries, such as manufacturing, electronics and healthcare, are placing pressure on Asian governments to strengthen the available IP protection. Remarkable progress has been achieved through a combination of legislation, law enforcement, capacity building, education and international cooperation.
Nevertheless, ensuring your IP position in Asia is as strong as possible – and enforceable, should the need arise – is paramount to success in Asia. Shelston IP has a wealth of experience, built up over decades, in obtaining and enforcing IP rights across Asia – seamlessly and cost-efficiently.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.