What you need to know about the revised patent and IP Act
One of the major changes will allow foreign patent agents to register in Singapore for offshore purposes.
In a joint news release, the Ministry of Law and the Intellectual Property Office of Singapore announced two major changes will be made to the Patents Act and Intellectual Property Act to strengthen the patent regime and grow Singapore as an Asian IP Hub.
The Ministry of Law will be introducing major changes such as revising the ‘self-assessment’ system to a ‘positive grant’ patent system, allowing foreign patent agents to register in Singapore to undertake offshore patent agency work, implementing an Integrated Registries IT system at Intellectual Property Office of Singapore, and transferring the regulation of pharmaceutical products for human use from the Medicines Act to the Health Products Act.
IPOS noted that there are 10,000 patents filed in Singapore every year in the areas of biotechnology, computer software and electronics.