The Registry of Trade Marks and Patents was restructured as the Intellectual Property Office of Singapore (IPOS) in September 1999. It has now been converted into a Statutory Board. In the words of IPOS Chairman, Professor Hang Chang Chieh, this is to allow it to spearhead Singapore as the Intellectual Property Hub.
At the Official Launch of IPOS as a Statutory Board on 2 April 2001, Prof Hang identified IPOS’ agenda for action as follows:
- helping patentees and commercial entities to organize the disparate pieces of their intellectual assets and convert them into valuable strategic financial tools.
- extending the integrated patent search services on SurfIP, the Intellectual Property Portal to include an IP exchange where patentees and companies can exploit their IP assets through brokerage services. IPOS has entered into Memorandums of Understanding with several overseas IP Exchanges such as HelloBrain, Technology Connect.com.Inc, AnIdea Corporation and is currently negotiating with The Patent & License Exchange, Inc., Yet2.com, TechEx. Inc and Uventures Inc to connect SurfIP users to technology licensing opportunities around the world.
The Minister of Law and Foreign Affairs, Prof Jayakumar delievered the key note address at the Launch and spoke of IPOS’ three key clusters of functions:
- to ensure a sound legal and administrative framework to define and provide IP rights. This will provide the basic foundation and the platform for all types of intellectual activities to take place.
- to work with various economic agencies, including the IP business community, to help IPOS formulate and review IP policies and practices.
- to progressively carry out more education, promotion and development work. IPOS should help develop the mindset Singaporeans to respect IP just as much as they respect physical property. It should also develop value-added services to meet the needs of the market. This will provide a conducive environment for local IP creators to realise their ideas.
In his concluding remarks, Prof Jayakumar shared the desired role of IPOS, that of becoming less of a Regulatory Authority and more of an Economic Promotion Agency.
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