SINGAPORE: IP can encourage innovation & build a sound future economy

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Singapore has taken bold steps towards understanding why Intellectual Property is a strategic lever to promote and protect innovation within the city-state, and may create good, high-paying jobs. Innovation can be thought of as a concept that adds value to a business and the result of a procedure in which something new has been brought to market. In one sense, research and development is nothing without enterprise and commercialisation, and IP can capture these ideas uniquely. The city-state has already built a vibrant knowledge-based ecosystem that drives a future economy; however for now IP expertise is in short supply in Singapore as well as many other jurisdictions.