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Singapore and China agree to enhance joint efforts to guard intellectual property
THE Intellectual Property Office of Singapore (IPOS) and the State Intellectual Property Office of China (SIPO) have agreed to enhance cooperation in this area through a Memorandum of Understanding (MOU).
The agreement was inked on the sidelines of the 11th Singapore-China Joint Council for Bilateral Cooperation meeting co-chaired by Singapore's deputy prime minister Teo Chee Hean and China's vice-premier Zhang Gaoli.
IPOS on Tuesday said the agreement will establish stronger cooperation and exchange of ideas and experiences in areas such as the formulation and implementation of intellectual property laws and policies, the development of intellectual property-related financial products and intellectual property valuation and appraisal.
The MOU also includes a commitment to develop and implement a pilot programme to improve intellectual property awareness and usage, said IPOS.
Effective for five years,it will expand on existing collaborations with China such as a Patent Prosecution Highway (PPH) agreement signed in May 2013.
This PPH provides a faster and more cost-effective way for businesses and innovators to protect their inventions in both countries.
A highlight of the agreement is the joint development of the Sino-Singapore Guangzhou Knowledge City between the two parties.
The city will be recognised as a "model zone for intellectual-property cooperation" between Singapore and China.
It reaffirms an earlier agreement to develop activities that will aid the development of the city as an IP Model Hub for China.
These activities include the formation of an advisory panel, helping companies to commercialise and develop their IP, undertaking capacity building and training and hosting study visits and exchanges.