Singapore and the Republic of Korea sign Bilateral Agreement strengthening IP cooperation

In brief

On 1 July 2020, the Intellectual Property Office of Singapore ("IPOS") and the Korean Intellectual Property Office ("KIPO") signed a Memorandum of Understanding ("MOU").


Contents

This partnership aims to foster bilateral support on the commercial exploitation of Intellectual Property ("IP") assets and promote growth in industries that rely on technologies (for e.g., those pertaining to medicine, artificial intelligence (AI) and Internet of Things (IOT)), so as to further strengthen the long-standing relationship between the countries. In 2019, South Korea was Singapore’s eighth largest trading partner with a total of SGD 39.4 billion bilateral trade and the IPOS had recorded a 47% increase in patent applications originating from South Korea. Under this partnership: 

  1. Korean applicants are able to choose IPOS as an International Search Authority (“ISA”) to search and examine patent applications filed under the Patent Cooperation Treaty ("PCT"), and may rely on these reports to accelerate their patent grant in other countries; and
  2. Korean applicants will have access to IPOS’s technical expertise and bilingual abilities to conduct prior art searches in both the English and Chinese languages. This will be especially useful for Korean enterprises which are considering entering the Chinese market since they can now choose IPOS as an ISA to gain early insight into relevant prior art in the Chinese language.

Former IPOS Chief Executive Daren Tang summarised the MOU's implications stating that the MOU, “will also enhance Singapore’s attractiveness as a base for Korean innovators to access regional markets and beyond”. This MOU will strengthen the position of IPOS as a leading ISA, placing a special emphasis on its bilingual capabilities and ability to provide access to the Chinese market.

* * * * *

Baker McKenzie Wong & Leow is a member firm of Baker & McKenzie International, a global law firm with member law firms around the world. In accordance with the common terminology used in professional service organizations, reference to a "partner" means a person who is a partner or equivalent in such a law firm. Similarly, reference to an “office” means an office of any such law firm. This may qualify as "Attorney Advertising" requiring notice in some jurisdictions. Prior results do not guarantee a similar outcome.

Contact Information

Copyright © 2023 Baker & McKenzie. All rights reserved. Ownership: This documentation and content (Content) is a proprietary resource owned exclusively by Baker McKenzie (meaning Baker & McKenzie International and its member firms). The Content is protected under international copyright conventions. Use of this Content does not of itself create a contractual relationship, nor any attorney/client relationship, between Baker McKenzie and any person. Non-reliance and exclusion: All Content is for informational purposes only and may not reflect the most current legal and regulatory developments. All summaries of the laws, regulations and practice are subject to change. The Content is not offered as legal or professional advice for any specific matter. It is not intended to be a substitute for reference to (and compliance with) the detailed provisions of applicable laws, rules, regulations or forms. Legal advice should always be sought before taking any action or refraining from taking any action based on any Content. Baker McKenzie and the editors and the contributing authors do not guarantee the accuracy of the Content and expressly disclaim any and all liability to any person in respect of the consequences of anything done or permitted to be done or omitted to be done wholly or partly in reliance upon the whole or any part of the Content. The Content may contain links to external websites and external websites may link to the Content. Baker McKenzie is not responsible for the content or operation of any such external sites and disclaims all liability, howsoever occurring, in respect of the content or operation of any such external websites. Attorney Advertising: This Content may qualify as “Attorney Advertising” requiring notice in some jurisdictions. To the extent that this Content may qualify as Attorney Advertising, PRIOR RESULTS DO NOT GUARANTEE A SIMILAR OUTCOME. Reproduction: Reproduction of reasonable portions of the Content is permitted provided that (i) such reproductions are made available free of charge and for non-commercial purposes, (ii) such reproductions are properly attributed to Baker McKenzie, (iii) the portion of the Content being reproduced is not altered or made available in a manner that modifies the Content or presents the Content being reproduced in a false light and (iv) notice is made to the disclaimers included on the Content. The permission to re-copy does not allow for incorporation of any substantial portion of the Content in any work or publication, whether in hard copy, electronic or any other form or for commercial purposes.