Today’s Post will focus on Patent Strategies for Startups in South-East Asia and has been kindly drafted for us by Ms. Chan Wai Yeng who is a patent specialist at Taylor Vinters Via LLC. Ms. Chan Wai Yeng will explore three patent strategies and several alternatives to ensure your product is best protected.
Startups generally worry that acquiring a patent is prohibitively expensive
As discussed in the first patent article, the cost of patenting is high and generally several order of magnitudes higher than the cost of acquiring other IP rights such as trade mark and industrial design rights.
A cohesive patent strategy can yield significant competitive advantage
The high level of financial investment involved in patent filing may deter startups from developing a comprehensive IP strategy that includes patent filings at its initial development stage. However, startups with a cohesive patent strategy that aligns with their business can benefit from gaining a strong competitive advantage in the market. Having a patent filing strategy can also mitigate litigation risks from competitors.
In today’s blog post, we will dive into IPR protection in the ICT Sector in Thailand: Thailand is currently the second largest buyer of ICT products and services in the ASEAN region and its ICT market is expected to grow at a fast pace in the near future, propelled by increased consumption and urbanisation, as well as the growing middle class. Underpinned by the Thai Government’s new Digital Economy Policy, aiming to develop hard and soft digital infrastructure across the country and modernizing the economy through digitalization, Thailand is expected to offer many promising business opportunities for European SMEs.
The ICT sector is considered to play a pivotal role in supporting regional integration and connectivity efforts between the countries in South-East Asia. The latest ASEAN ICT Industry Masterplan 2016-2020 aims to propel ASEAN towards a digitally-enabled economy that is secure, sustainable, and transformative and to enable an innovative, inclusive and integrated ASEAN Community. The ICT industry is one of the sectors presenting major business growth opportunities for EU SMEs in South-East Asia.
For Start-ups expanding in South-East Asia, IP protection should be considered one of its core priorities. Today’s blog post has been kindly drafted for us by Ms. Chan Wai Yeng who is a patent specialist at Taylor Vinters Via LLC. Ms. Chan Wai Yeng will explore five common misconceptions regarding patenting – something which will be useful for any European Start-up looking to expand their business in South-East Asia, and Singapore in particular.
Intellectual property protection is an important consideration for most start-ups. The exclusive monopoly that comes with patents can help start-ups carve a niche in a crowded marketplace. Patents have always been important to some industries like Big Pharma where they develop expensive drugs in lengthy R&D processes. They have become increasingly important and relevant to new business models and technologies in the technology sector.
While the concept of a patent is fairly simple to understand, there are several misconceptions about patents which I’d love to clarify. It is important to clarify these misconceptions before embarking on the intensive patenting process.
Myth 1: A patent applicant has rights to enforce his pending patent
It is a common mistake amongst first time patentees to think that once their patent application has been filed, they will immediately gain the rights to sue third parties for infringement of their patent. Rights to bring about a suit for infringement are in fact only available to the patent owner after his patent has been granted. The Intellectual Property Office of Singapore indicates that patents filed in Singapore can take between 2 to 4 years to grant. Thus patentees should be aware that during the period when the patent is still pending, they are not able to take action against third parties that commercially exploits their invention.
Myanmar is an emerging market showing steady growth rates since the country set itself on a course of political liberalisation. Despite being one of the poorest ASEAN nations, the country’s economy grew at around 8.5% in the 2014/2015 fiscal year, with economic reforms bolstering consumer and investor confidence. The service sector was the main driver of growth thanks to expansions in telecommunications and transportation. Myanmar is an emerging economy with a GDP of $64.3 billion, which is attracting more and more foreign investments. Its 53.4 million strong population is mainly occupied in the agricultural sector. However, the garment and mining industries, as well as wood products also take up a significant part of the economy.
EU imports for Myanmar are dominated by the textile industry, accounting for nearly 80% in 2011, making it the 29th largest trading partner for the EU for clothing. Agricultural products also play a significant role in Myanmar’s exports to the EU. EU exports to Myanmar on the other hand are dominated by machinery and transport equipment. EU exports to Myanmar have risen steadily since its increasing political liberalisation.