30 Apr '18, 11am

Singapore Shortens Patent Approval Time For Blockchain & Fintech

Singapore Shortens Patent Approval Time For Blockchain & Fintech

Known as one of the most liberal flourishing financial hubs in the world, Singapore noticed the skyrocketing demands in the fintech space and decided to lend them a hand. Low Yen Ling, the senior parliamentary secretary for the Ministry of Trade and Industry, announced the initiative during an intellectual property event. Currently, most patent applications sit for two years before approval, but the Intellectual Property Office of Singapore (IPOS) will approve fintech patents in only six months. “Singapore is a place where great ideas from anywhere in the world can be commercialized. By significantly reducing the time needed for grant of a fintech patent, our innovative enterprises will be able to compete effectively through their intellectual property and use these intellectual assets to scale up and enter the world’s market,” said Daren Tang, chief executive of the IPOS....

Full article: https://cryptovest.com/news/singapore-shortens-patent-app...

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