With more companies operating across multi-jurisdictional and fast-moving, often digital markets, disputes over IP are also multiplying and becoming more complex.
Singapore’s emergence as a global IP hub owes much to a world class IP protection regime ranked second best in the world by the World Economic Forum in 2019 and to a stable, robust legal system that underpins its establishment as a major global center for business dispute resolution.
The Intellectual Property Office of Singapore (IPOS), considered the most innovative IP office in the world by the World Trademark Review earlier this year, has been actively taking steps to make businesses aware of alternative dispute resolution mechanisms they can use to settle their IP disputes.
Mediation can offer a simpler, speedier and more cost-effective alternative to arbitration or litigation especially where both parties desire a mutually satisfactory outcome. Mediation also deals with multi-jurisdictional disputes more efficiently than litigation. Instead of initiating separate legal proceedings in each jurisdiction, parties can reach a harmonised outcome across all the territories in dispute through a single mediation process. Lastly, mediation will become increasingly attractive when the Singapore Convention on Mediation – a UN treaty signed by 52 countries in 2019, comes into force in September 2020.
Read the full article on Reuters here.
IPOS has also launched a new “Young IP Mediators” initiative. Having recognised that many IP disputes are actually well-suited for mediation due to their international dimension and confidential nature, the overarching goal of this initiative is to build awareness of and to promote interest in mediation for IP disputes.
Congratulations to our Sage Alumni, Levin Lin and Utsav Rakshit, for their appointments. We look forward to your good service in this field, and we are proud to have played a part in your journeys.
Read more on NUS Law here.
