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Singapore is poised to significantly advance its intellectual property (IP) landscape with a new initiative designed to enhance IP expertise among creative professionals, including freelancers. The Intellectual Property Office of Singapore (IPOS) has announced a strategic collaboration with the Visual, Audio, Creative Content Professionals Association (VICPA), an NTUC-affiliated group.
This partnership, unveiled by Minister for Culture, Community and Youth, and Second Minister for Law, Mr Edwin Tong SC, during IP Week @ SG, aims to elevate IP awareness and proficiency in the country’s creative sector over the next few years.
The collaboration between IPOS and VICPA will encompass a range of targeted efforts:
Promoting IP Awareness: The partnership will roll out comprehensive IP awareness programmes and campaigns tailored to freelance creative professionals and youth. These initiatives are designed to foster a deeper understanding of IP concepts and their importance in protecting and leveraging creative works.
Enhancing IP Value: VICPA members will benefit from resources that assist in maximising the value of their intellectual property. This includes access to guidelines, best practices, and case studies, which are crucial for effectively managing and enhancing the IP associated with their creative outputs.
Training and Monetisation: Creators will receive training focused on managing and monetising their IP. This training will cover essential aspects such as IP licensing, negotiation techniques, and the commercialisation of creative works. The goal is to empower creators with the skills needed to capitalise on their IP assets, ultimately driving greater financial and strategic benefits.
A recent IPOS study highlights the importance of IP-intensive industries, including the creative sector, showing that one in five jobs created in Singapore from 2017 to 2021 was in these fields. Employees in IP-intensive sectors earned 9.2% more than those in non-IP-intensive industries, underscoring the significant economic contribution of intellectual property.
Minister Tong reaffirmed Singapore’s commitment to enhancing IP awareness and providing robust resources to businesses and individuals. This initiative aligns with the Singapore IP Strategy 2030, which aims to build a knowledgeable workforce proficient in leveraging IP for economic growth and development. The strategy emphasises the importance of IP in fostering innovation and competitiveness within the global market.
In addition to the IPOS-VICPA collaboration, IPOS has announced several other key partnerships aimed at further strengthening IP capabilities:
Upskilling with WIPO Academy: IPOS will continue its upskilling initiatives with the World Intellectual Property Organisation (WIPO) Academy over the next five years. This partnership focuses on using IP as a tool for sustainable growth and development. The collaboration follows the success of a previous Executive Training Programme that attracted a diverse range of global participants from various industries, demonstrating the program’s broad appeal and effectiveness.
Extended Partnership with MPA: IPOS will extend its partnership with the Maritime and Port Authority of Singapore (MPA) for an additional three years. This extension aims to bolster the maritime sector’s IP capabilities by providing training and support for companies, startups, and research institutions in developing effective IP strategies and commercialising their innovations.
IP Week @ SG 2024, now in its 13th edition, highlights the impact of collaboration in the IP sector. The event gathers 90 partners and over 4,500 delegates, including global IP leaders, to discuss topics like IP valuation, commercialisation, and emerging technologies. It also features the WIPO-IPOS IP for Innovation Awards, which this year honoured companies from manufacturing, robotics, semiconductor, and infant care for their exceptional use of IP.
Overall, Singapore’s concerted efforts to enhance IP competency reflect its strategic vision to foster a robust IP ecosystem that supports creativity, innovation, and economic growth. Through these initiatives, the country is reinforcing its position as a leader in intellectual property management and utilisation.
