The islandstate moved up to the fourth overall in the world in the International PropertyRights Index (IPRI), behind Finland, Switzerland and New Zealand.
Australia andJapan came fifth and sixth, respectively. The US moved up two spots to the 12th place.
The index isdetermined using data from official sources across various internationalorganisations, together with case studies compiled across 118 think-tanks andpolicy organisations in 72 countries.
It placedSingapore among the top countries under the three core categories: physicalproperty rights, IP rights, and the legal and political environment to enforcethese rights.
Recently,Singapore launched the world's first trademark registration mobile app thatreduces the time taken to file a trademark by 80 percent. It also utilisesartificial intelligence (AI) technology in image search during the registrationprocess.
TheIntellectual Property Office of Singapore (IPOS) announced new initiatives inpartnership with eight other ASEAN IP offices to expedite patent applicationsin key emerging technologies such as fintech, cyber security and robotics./.