Frequently Asked Questions (FAQs)
ICAP | Patents | Trade Marks | Designs
Q1. What is Intellectual Capital?
Intellectual capital essentially includes all the tacit (unwritten) and codified (written) knowledge within a company by which it makes profits. Every company has some form of intellectual capital typically including the following:
- human capital
- intellectual assets
- intellectual property
- structural capital
- organizational capital
- relationship capital
- cultural capital
- spiritual capital
Managing your intellectual capital requires attention to building and protecting each specific form of capital, as well as ensuring that the various forms of capital are integrated in a way that maximizes your company's profit potential.
Q2. Why bother about Intellectual Capital Management?
Economies around the world are moving towards knowledge-intensive industries as their key engines of growth. Value creation and value extraction through the efficient use of intellectual capital will be the core competencies that determine whether companies sink or float. In a few years, companies that are thriving will be those that took the steps to skillfully manage their intellectual capital and thus maintain their competitive edge.
Q3. How can my company improve its Intellectual Capital Management?
The first step is to identify and if possible codify all the intellectual capital that resides in your company. Next, you might wish to evaluate whether the way your intellectual capital is managed currently is optimal in terms of producing profit for your company. If there are areas for improvement, these should be spelled out clearly and a roadmap prepared for action by all employees.
Should there be intellectual property that needs to be protected, these should be clearly identified. Depending on the intellectual property that needs to be protected, patent applications may be filed and pursued to grant, trade marks and designs registered and copyright identified and recorded.
Finally there is the need to embed intellectual capital management into your company's culture so that the above steps become an ongoing process that continually enhances profits for your company.
Q4. How can Axis help?
We provide the entire range of services that a company requires for managing its intellectual capital. For a start, the intellectual property professionals at Axis have had extensive hands-on and research experience in a broad range of industries and are in a unique position among patent attorneys to comprehend the technology and provide advice on specific aspects which need to be protected. In drafting the patent application, Axis therefore has an edge, as we are better able to understand and accurately describe the invention and hence provide better protection for it to safeguard our clients’ business interests.
Q1. What is a patent?
A patent is a form of intellectual property. It is an exclusive right granted by a Government to exclude others from working the invention. In Singapore, a patent allows the patentee to stop another party from manufacturing, using, selling, offering for sale, or importing an invention for a limited term of 20 years.
Q2. Who can apply for a patent?
In Singapore, the legal owner of an invention can apply for the patent. The owner can be the inventor or inventors. However, if the inventor sells (assigns) his / her rights to another party, then that party will own the invention and will be able to apply for a patent. Under Singapore law, the inventor is an employee, then in certain circumstances the employer (and not the employee) may be the owner of the invention.
Q3. How long is a patent effective?
In Singapore, as in most countries, a patent has a normal term 20 years from the date the application was filed. In most countries, an annual renewal fee or annuity needs to be paid to the patent office in order to maintain the patent and keep it alive. If the renewal fee is not paid, then the patent will lapse.
Q4. What are the requirements for patent protection?
To qualify for patent protection, under the Singapore law, an invention must be novel (new), inventive (non-obvious) and capable of industrial applicability. These requirements are similar in the laws of many other countries in the world.
Q5. Which countries should I apply for patent protection?
It is usually a commercial decision as to which countries you should apply for patent protection. It really depends on where the invention is to be used sold or manufactured, where potential infringers are located, etc.
Trade Marks
Q1. What is a trade mark?
A trade mark is a word, symbol or design, or a combination of these, which is capable of distinguishing the goods and services of an undertaking (i.e., trader)from those of another.
Q2. Is trade mark registration mandatory?
No, but it is advisable. There is no requirement for you to register your trade mark. However, registering your trade mark allows you to take action to stop another party from using the same trade mark on the same goods, and to stop use of a similar trade mark on same or similar goods, where there is likelihood of confusion on the part of the public.
Q3. If I have not started to use my mark but I intend to use it on my goods, should I register my mark?
You should take steps to protect your mark if you intend to use it for a product or service. By registering your mark with the Intellectual Property Office of Singapore (IPOS), your mark will be protected under the Trade Mark Act in Singapore.
Q4. How long is a trade mark registration effective?
In Singapore, a trade mark registration lasts initially for 10 years, after which it may be renewed every 10 years ad infinitum. However, note that there is a risk that the trade mark registration is declared invalid where the trade mark is not used for a prolonged period on the relevant goods or services.
Q5. What is the difference between a trade mark and a service mark?
Traditionally, trade marks cover goods, i.e., physical products which are sold or traded. On the other hand, service marks cover services, i.e., activities carried out by one party for or on behalf of another. As the legal rights are essentially the same, the term “trade mark” is frequently used to refer to both types of marks.
Designs
Q1. What is a design?
A design refers to the appearance of the whole or a part of a product resulting from the features of, in particular, the lines, contours, colours, shape, texture or materials of the product or its ornamentation.
Design registration gives the owner a monopoly on the design. In other words, the owner has the right (for a limited period) to stop others from making, using or selling a product to which the design has been applied.
Q2. How long does a design registration last?
In Singapore, a design registration lasts for an initial period of 5 years. It is renewable for further 5 year periods up to a maximum of 15 years, subject to the payment of renewal fees.
Q3. How do I find out which class and subclass my design falls under?
You may refer to the Third Schedule for the list of headings for the 32 classes and subclasses based on the Locarno Classification for Industrial Designs. The list will provide you with the general information about the types of articles and the class and subclass they belong to. It is a quick reference to assist you in locating the correct class and subclass for your design application.
Q4. If my design has been published before lodging the application for registration, will it affect my application?
Yes, the Registrar may refuse an application for registration of a design on grounds that the design is not new or not registrable for any other reason.
