With the Ministry of Law's IP Hub Master Plan report, Singapore is seeking to become the Asian centre for IP transactions, filings and dispute resolution.
The plan sets out various steps to encourage this such as boosting the patent profession (already well under way), developing IP strategy and financing expertise and tools, further improvements and specializations at IPOS and its excellent IP Academy, as well as specialized litigation dockets and IP arbitration at SIAC and new listing rules covering IP and tax benefits for IP activities performed in Singapore.
IP Komodo has long noted the increase in in-house IP counsel positions, based in Singapore. Hong Kong's role as a single central location is being bypassed by companies who feel that several IP specialists in Asia are needed, usually one in China and another elsewhere, which increasingly is Singapore. IP Komodo expects Singapore will ultimately outpace other markets to become the centre of IP in Asia.