SINGAPORE: Singapore and Brazil have taken steps to strengthen intellectual property (IP) cooperation in the next five years.
The Intellectual Property Office of Singapore (IPOS) and Instituto Nacional Da Propriedade Industrial (INPI) signed a memorandum of understanding (MOU) that provides an umbrella framework for collaboration between the two countries.
Under the agreement, parties will explore activities that encourage exchange of information, best practices and knowledge on various IP-related issues.
IPOS said when implemented, businesses of both countries can benefit from expedited patent registration, and greater sharing of IP business best practices for small and medium enterprises (SMEs) through joint participation of IP conferences and events.
Chief executive of IPOS, BG (NS) Tan Yih San said: "Singapore business owners will benefit from the network of South American markets, and have more direct access to the business opportunities in Brazil."
The MOU was signed at the INPI in Brazil on Sunday. - CNA/xq
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