Singapore ranked sixth in 38 economies for intellectual property environment

SINGAPORE easily trumped other Asia-Pacific economies in the latest ranking of various markets' intellectual property (IP) environment done by the US Chamber of Commerce.

It came in sixth out of 38 economies, behind the United States, the United Kingdom, Germany, France and Sweden, according to a report the chamber released on Wednesday.

While Singapore scored points for factors such as having an "advanced national IP framework in place" and a patent enforcement legal framework that was "adequate and generally applied", the chamber said it still had "relatively high rates of piracy".

The 38 economies benchmarked in the 2016 index together account for nearly 85 per cent of global gross domestic product, the chamber noted in the report. The index is based on 30 measurable criteria patent, copyright and trademark protections, enforcement and engagement in international treaties.