Singapore government is revising patent laws
Singapore government is revising patent laws
SINGAPORE (AFP): Singapore announced yesterday it was
reviewing patents laws protecting intellectual property rights to
woo more foreign investors to set up research and development
centers here.
"We are reviewing all the relevant laws under the Patents Act
to update them in line with the Uruguay Round Final Act Package,"
Trade and Industry Minister Yeo Cheow Tong said as he launched a
S$300-million (US$215-million) pharmaceutical manufacturing
plant.
The state-of-the-art multi-purpose plant being built by
Schering-Plough Corp. is the first manufacturing facility for
pharmaceutical chemicals to be set up in Singapore by a major
U.S.-based company.
Yeo said the patent laws of the city-state would be amended to
align them with the Agreement on Trade-Related Aspects of
Intellectual Property Rights (TRIPs), an integral part of the
Uruguay Round of the General Agreement on Tariffs and Trade
(GATT) concluded last year.
"I am glad to announce that the government has set up an
inter-ministry committee to examine the TRIPs agreement and
review what Singapore needs to do to conform to its obligations
under TRIPs," he said.
Singapore, housing many computer software development centers
and electronics R and D centers of multinational companies,
enacted a new Patents Act only in October last year, modeled on
legislation in several developed countries, especially Britain.
Old law
The previous law was said to be costly, time-consuming and
cumbersome, particularly in the registration and granting of
patents based on foreign searches and examination.
"Our aim was to strike a balance between providing adequate
protection and returns to patent owners on the one hand, and on
the other, preserving the interests of consumers and industry
through easier access to patented products and services," Yeo
said.
Under the Uruguay Round agreement, developed countries were to
take immediate steps to adhere to the TRIPs agreement while
developing countries were given a five-year grace period,
officials said.
Yeo said Singapore wanted to strengthen its capabilities in
biotechnology and pharmaceutical research and development to
complement its strengths in manufacturing.
Schering-Plough's Singapore facility, for which a ground-
breaking ceremony was held yesterday, will be completed by the
end of next year. The company recently established a US$37-
million joint venture with two Chinese corporations in Shanghai.
Schering-Plough expects its sales in Asia to increase by 30
percent annually from the US$190 million expected this year.