India and Singapore have signed a Memorandum of Understanding (MoU) between the Intellectual Property Office of Singapore (IPOS) and the Department of Industrial Policy & Promotion (DIPP). This is the two countries’ first bilateral MoU on industrial property cooperation.
Under the MoU, a Joint Coordination Committee (JCC) will be established, which will facilitate bilateral exchanges and cooperation to foster innovation, and support Indian companies in tapping on Singapore as a regional intellectual property hub for their innovation-related activities. The two agencies will:
- Exchange best practices, experiences and knowledge on industrial property awareness, initiatives and programmes
- Exchange personnel to deepen industrial property capabilities
- Organise industrial property events with and/or for the larger industrial property community, including members from academia and research & development institutions
- Cooperate on modernisation projects, such as IT systems to better manage industrial property processes
- Train local industrial property and business communities