RHTLaw Taylor Wessing Head of Capital Markets Ch’ng Li-Ling was quoted in The Edge Singapore article titled “Crowdfunders respond to new MAS rules, want more done for investor protection”.
The article discussed how the new regulations announced by the Monetary Authority of Singapore (MAS) on June 8 seemed to be surprisingly welcomed by local crowdfunding platforms as “the new regulations are drivers to safeguard the industry…”. Research by The Edge Singapore also revealed that several of the newest crowdfunding platforms are not deterred by the prospect of more regulation but are in fact already preparing to apply for a Capital Markets Services (CMS) licence. MAS has made it easier for these companies to secure a licence by lowering the base capital requirement from S$250,000 to S$50,000 and removing the security deposit requirement of S$100,000.
Li-Ling gave her opinion that the new regulations put crowdfunding platforms under the oversight of the regulatory body (MAS) and give investors more protection.
The full article dated Monday 20 June 2016, can be found in The Edge Singapore.
RHTLaw Taylor Wessing and Taylor Wessing launched its fifth Global Intellectual Property Index (“GIPI5”), in which Singapore was highly ranked in the latest index.
The Global Intellectual Property Index (“GIPI”) is the most comprehensive assessment of how intellectual property regimes around the world compare with each other. As business success is more dependent than ever on the effective management and protection of its intellectual property, the growth industries of today are intrinsically linked to those that are IP-rich and IP-intensive, such as new technologies, high-end design and media content.
The latest GIPI5 index assessed the regimes of 43 jurisdictions, using more than 8,500 individual assessments from senior industry figures, balanced with 61 objective factors.
Singapore has leapfrogged to 9th position this year, from 12th position in the previous GIPI survey. Jurisdictions were assessed and rated in relation to obtaining, exploiting, enforcing and attacking five key IP rights: trade marks, patents, copyright, design and data protection. Notably, Singapore led the field amongst ASEAN countries in its ranking on the patent index while also ranking 5th among the 43 jurisdictions in terms of copyright enforcement, cost-effectiveness, and exploitation.
Roland Mallinson, partner and editor of GIPI5 commented: "The ever-growing value and role that IP has to play in our economies is receiving increasing recognition. Having a credible and effective IP regime is increasingly recognised as a stimulus for home-grown innovation and investment.”
"It is crucial that all IP regimes are reviewed and updated on a constant basis. Those that are not will hamper the innovation, entrepreneurialism and competiveness of their domestic businesses and discourage inward investment into their countries."
Jonathan Kok, Head of Intellectual Property & Technology at RHTLaw Taylor Wessing said, “It is very encouraging to see the level of IP protection in Singapore improve over the years. As we move to a future driven by knowledge and innovation, it is even more critical for Singapore companies to continue supporting and protecting IP, and to ensure that our businesses and investors remain confident and committed to protect IP in Singapore and the region.”
“IP is a key driver of Singapore’s economy, and having a business-friendly IP regime has been instrumental to our growth. With the robust IP ecosystem Singapore has created, businesses can continue to leverage on IP to create added value from their technology, brands and content,” he added.
GIPI5 adds seven new countries and highlights some of the key themes across IP regimes including increasing harmonisation and the cost-effectiveness of litigation. Those countries that deliver a functioning, efficient, fair, predictable and transparent IP regime are likely to be those that will benefit most from the increasing investment being made in the field.
Previous editions of GIPI have attracted widespread comment, been referred to by IP creators and users, as well as public officials and legislators. This latest report reflects on a number of high-profile changes in the law since the last report, GIPI4, which was issued in November 2013.
To view GIPI5, please click here. To request a hard copy please click here.
This article was featured in the below publications:
“Singapore Highly Ranked In Latest Global Intellectual Property Index” – Conventus Law, 16 June 2016
“Singapore skips to 9th in global IP ranking” – The Edge Markets, 16 June 2016
“环球知识产权指数 我国进阶三位名列第九” – Lianhe Zaobao, 17 June 2016
About The Global Intellectual Property Index (GIPI)
The Global Intellectual Property Index (GIPI) provides a comprehensive assessment of how the IP regimes of 43 important jurisdictions compare with each other. The European Union is treated as an additional jurisdiction in relation to IP rights that have been harmonised, i.e trade marks and designs.
Each IP right (patents, trade marks, designs and copyright) is assessed as regards obtaining, exploiting, enforcing and attacking it. Each data protection regime is measured against the criteria of fairness, enforcement, compliance, administrative burden and disruption, each of which is explained more fully in that section.
This is our fifth GIPI report (GIPI5). The results are the statistical output from a worldwide survey of IP owners and users giving over 8,500 assessments, as weighted bearing in mind data from 61 objective sources (or "instrumental factors"). The latter includes published empirical data, such as the number of patent or trade mark filings and grants, the value of royalty fee payments, R&D expenditure and the origin of counterfeits as seized by customs.
The first report (GIPI1) was issued in May 2008. It covered 22 jurisdictions and just trade marks, copyright and patents. GIPI2 was released in May 2009 and included two further jurisdictions and two further IP rights (designs and domain names). GIPI3 was issued in 2011, covering the same 24 jurisdictions. It introduced a data protection index to replace the domains name (one which saw little change). GIPI4, issued in November 2013, covered the same IP rights and added in a further 12 countries. The results and our analysis were also made available online using an interactive map at www.taylorwessing.com/ipindex.
RHTLaw Taylor Wessing’s Managing Partner Tan Chong Huat shared his views in this week’s topic in the Business Times’ weekly column, Views from the Top.
This article was first published in The Business Times on 13 June 2016.
Do good when doing well
JUNE 13, 2016 5:50 AM
THIS WEEK'S TOPIC: How can businesses integrate corporate giving with business strategy?
Tan Chong Huat
RHT Law Taylor Wessing LLP
SOME may feel that in times of crisis, businesses cannot afford to invest in CSR. However, I believe that the truth is just the opposite. In today's globalised world, the long-term value, strategy and success of businesses are inextricably linked to the integration of economic, social, environmental and governance issues into corporate management and operations. Intelligent organisations know that businesses can never be prosperous if they operate within societies that are unsuccessful.
The RHT Rajan Menon Foundation Charity Golf event has become a regular fixture on our philanthropic calendar. This year over S$260,000 was raised for three worthwhile charities. Together, we can be catalysts for positive change in our community.
RHTLaw Taylor Wessing and RHT Holdings (“RHT”) today hosted the RHT Rajan Menon Foundation Charity Golf 2016, raising S$265,200 in support of the World Wide Fund for Nature, Singapore (WWF-Singapore), The Straits Times School Pocket Money Fund (STSPMF) and National Gallery Singapore.
Into its second year, today’s event drew sponsorships that more than doubled the funds raised during the inaugural event last year. Guest-of-Honour Associate Professor Ho Peng Kee, Patron of the RHT Rajan Menon Foundation, was on hand to grace this year’s charity golf event.
“For many years, community development goals were philanthropic activities that were seen as separate from business objectives. This is now changing. At RHT, we recognise that cutting-edge innovation and competitive advantage can result from weaving social and environmental considerations into business strategy. The RHT Rajan Menon Foundation is a serious and committed catalyst that hopes to inspire mindset change in the wider business community,” said Mr Tan Chong Huat, Chairman of RHT Rajan Menon Foundation and Managing Partner of RHTLaw Taylor Wessing LLP.
Sponsorships for this year’s event were gathered from a wide spectrum of organisations. Key sponsors comprised Chow Tai Fook Charity Foundation (Singapore), Qilin World Capital Ltd, Smartflex Technology Pte Ltd, Metropolitan Machinery Pte Ltd, Ascendas Singbridge Pte Ltd, Hanwell Holdings Limited, Dyna-Mac Engineering Services Pte Ltd and Union Steel Holdings Limited.
Concluding with his comments on the RHT Rajan Menon Foundation Charity Golf 2016, Jayaprakash Jagateesan, CEO of RHT Holdings, remarked “The success of the RHT Rajan Menon Foundation’s fundraising comes down to our donors’ willingness and enthusiasm in stepping forward with their donations and sponsorships. Giving back to the community has always been at the heart of RHT’s mission. Today’s beneficiaries are part of the Foundation’s long term goal to widen our corporate social responsibility contributions from the community to the environment and to the arts. We hope the charity golf event will be a spark to light the passion for doing good.”
Today’s charity golf event drew over 130 golfers and 210 participants who came together for the Gala Celebrations Dinner which included a charity auction. The RHT Rajan Menon Foundation Charity Golf is a key charitable endeavour in the RHT Rajan Menon Foundation’s annual philanthropic calendar.
The RHT Rajan Menon Foundation Charity Golf 2016 was featured in the 28 May 2016 edition of The Straits Times.