Singapore ranks first among Asian economies: intellectual property study

Singapore holds the highest rank among Asian economies on intellectual property; while China has improved its score in this area, according to an International Intellectual Property (IP) Index released by the U.S. Chamber of Commerce's Global Intellectual Property Center (GIPC) on Thursday.

The 3rd annual edition of the IP Index "UP: Unlimited Potential " ranks 30 economies around the world, representing 80 percent of the world's gross domestic product (GDP). The Index is based on 30 measurable criteria critical to innovation including patent, copyright and trademark protections, enforcement and engagement in international treaties.

This year's international IP index found that 20 of the 30 economies improved their scores from last year, and also highlighted strength and weakness of these economies.

Out of 30 possible points, the United States received the highest score of 28.53 points, while Singapore rank 5th among 30 economies with a relatively higher score of 25.38 points, making it a leading performer among Asian economies for the third consecutive year.

Executive Vice President of GIPC, Mark Elliot, said that Singapore's ranking was a "telling message."

The increase of Singapore's overall score is due to amendments introduced in July 2014, which successfully strengthened Singapore 's copyright regime, particularly against online piracy.

The city state also offers an advanced national IP framework with an emphasis on strong protection for pharmaceutical patents and copyright, although there are still relatively high rates of physical and online piracy.

Gained a score of 11.9 points, China has increased from 39 percent of the total possible points in the second edition of the GIPC Index to 40 percent of that in the third one.

The improvement in scores resulted from increased attention to enforcement, including the creation of new specialized IP courts, 2014 campaigns against counterfeits and copyright infringing websites and increased government commitment to combat trade secret theft and infringement.

The GIPC Index serves as a tool for both government leaders and industry to evaluate the IP environments in 30 economies around the globe that are a mix of developed economies and emerging markets.