The countries seek to facilitate bilateral cooperation and exchanges that encourage innovation.
In a first of its kind for India and Singapore, the two countries have entered into a bilateral memorandum of understanding on industrial property cooperation (IP MoU). The Intellectual Property Office of Singapore and the Department of Industrial Policy and Promotion, Government of India, signed the IP MoU on October 4. The IP MoU was one of three MoUs that the two countries signed during Singapore Prime Minister Lee Hsien Loong’s recent state visit to India. Read our earlier LawFlash on the three MoUs: India and Singapore Sign Memorandums of Understanding.
The IP MoU seeks to establish a Joint Coordination Committee to facilitate bilateral cooperation and exchanges that encourage innovation and assist Indian companies in tapping Singapore as a regional intellectual property hub for their innovation-related activities. The IP MoU’s priority initiatives include the following:
The IP MoU is intended to enhance technological advancement and innovation in the two countries. It is also seen as a major step by India to further its National Intellectual Property Rights Policy, which was released earlier this year.
If you have any questions or would like more information on the issues discussed in this LawFlash, please contact Morgan Lewis Stamford LLC, a Singapore law corporation affiliated with Morgan Lewis & Bockius LLP.