It’s ranked sixth globally.
Singapore was ranked sixth out of thirty-eight economies in terms of promoting intellectual property (IP), according to the International IP Index by the US Chamber of Commerce.
Singapore is ranked sixth globally and is the top IP hub for Asia. The United States bagged the top spot, followed by the United Kingdom, Germany, France and Sweden.
Singapore is followed by Switzerland and Australia. Asian powerhouses Japan and South Korea are at ninth and tenth place, respectively. Italy rounds out the top ten.
An overall score approaching 30 is indicative of a highly robust IP system. Each economy’s score is based upon 30 indicators spread across six categories – Patents, Copyrights, Trademarks, Trade Secrets, Enforcement, and International Treaties. Singapore's score stood at 25.63.
“Intellectual property fuels the creation of knowledge-based economies. By providing a legal infrastructure through which ideas can become products, robust IP systems foster innovation leading to economic growth, job creation, and sustained competitiveness in global markets. The U.S. Chamber’s International IP Index provides economies with a comprehensive roadmap to harnessing the benefits that robust IP systems provide,” the report said.
The Index maps the IP environment in 38 economies around the world, collectively accounting for nearly 85% of global gross domestic product (GDP).
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