Thinking about filing a patent in Singapore? Then this blog post for you, as today we give you a comprehensive overview of Singapore’s patent regime. 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. She was assisted by AsiaLawNetwork.com content strategist Ling Yuan Rong. Ms. Chan Wai Yeng explains the process of filing a patent in Singapore and discusses the considerations that everyone should to take into account before filing a patent application.
This article has been first published by Asia Law Network and you can find the link to the original article below at the end of the article.
You have just created a great new product, UX, or developed an improved manufacturing process with significant reduction in production time. You know your invention has tremendous commercial value, and you are keen to share your idea with a potential business partner. But hold on for a minute. Before you disclose your invention to anyone, you may want to take steps to secure the ownership and protection of your brainchild by patenting your invention.
What is a Patent?
A patent is a right granted to the owner of an invention to enable him to exclude others from using, copying or making the invention without his consent in the country in which he has obtained patent protection.
The rationale behind patents is to encourage innovation by preventing competitors from copying an innovator’s novel idea. Incentives like this are essential because research and development can be very expensive and if an innovator is unable to at least recoup the cost of developing his innovation (and profit from it to some degree), the innovator is unlikely to embark in the effort. Patents also promotes diffusion of ideas and information which may have positive effects in the long run. Continue reading “Patent 101: Things you need to know before patenting in Singapore” »