To advance Singapore’s position as a leading hub for alternative dispute resolution in the region, the Intellectual Property Office of Singapore (IPOS) will extend and enhance its Mediation Promotion Scheme for three years.
The updated scheme will benefit businesses and entrepreneurs who opt for mediation as an avenue to resolve their intellectual property (IP) disputes in Singapore. Effective 1 April 2019, the Enhanced Mediation Promotion Scheme (EMPS) will see an increase in funding from S$5,500 to either S$10,000 or S$12,000 for each mediation case, and allow parties to claim for mediationrelated agent fees.
Asia has risen to be one of the most innovative regions in the world, with IP filings growing almost twice as fast at 12.7% compared to global IP filings which was at 7.4% between 2007 and 20171. In anticipation of increasing innovation activities worldwide, Singapore embarked on legislative changes to its IP regime, providing innovation-driven enterprises with greater access to alternatives routes for IP dispute resolution. In November 2017, the Mediation Act came into force, making it easier for mediated settlement agreements to be enforced, further advancing the attractiveness of mediation as a fair and cost effective Ideas Today.
With the Singapore Convention on Mediation due to be signed in the Republic in August this year, businesses can also look forward to greater assurance that mediated settlement agreements can be relied upon to resolve cross-border disputes. These global developments, coupled with the EMPS, will further promote mediation as a key option in resolving disputes, boosting Singapore’s position as a dispute resolution hub for businesses and innovators to resolve their IP disputes in Singapore and overseas.
Mr Daren, Chief Executive of IPOS said: “Innovation is becoming globalised, and increasingly, parties from across different regions have to work together to commercialise their IP. In such an environment, disputes will invariably arise. Singapore is already a hub for alternate dispute resolution and this scheme will position us more strongly to be a hub for the mediation of cross-border IP disputes. Local entrepreneurs and enterprises can also tap on this scheme to have a fair and cost-effective avenue for resolving their domestic IP disputes.” Similar to the previous arrangement, parties may appoint a mediation institution of their choice, including the World Intellectual Property Organisation Arbitration and Mediation Center, Singapore International Mediation Centre and Singapore Mediation Centre.