An Overview of Singapore Intellectual Property Rights Written by: Cecilia Karanja Intellectual property, abbreviated as IP and also known as industrial property, refers to various types of creations of the human mind for which exclusive rights are recognized. Intellectual property law exists to grant entrepreneurs, artists and innovators exclusive intellectual rights to many intangible assets and these are for a specified term.Examples• Entrepreneurs are granted exclusive rights to the use of their trademarks and established geographical indications by entrepreneurs • Innovators get protection for their industrial projects, patents, confidential information and trade secrets. • Creative artists, on the other hand, are granted exclusive copyrights to the musical, dramatic, artistic, and literary works they create. Types of Intellectual Property in SingaporeSingapore law recognizes different types of intellectual property and the main ones are explained below.1. Trademarks Basically, a trademark refers to a sign you use to distinguish the goods or services you produce from those of other producers. Graphically a brand could be represented as a signature or a logo of your company. By using a trademark, you can protect your brand by limiting other people's use of your logo or name. Once you acquire it, it will last indefinitely. You just have to renew it every 10 years. Since a trademark is a type of intellectual property, it can be licensed or assigned to others. Importance of Registering a Trademark The law does not force anyone to register a trademark in Singapore. However...... middle of paper ......es of shapes, ornaments or patterns, or configurations applied to articles using any industrial process. By registering a design you effectively protect the external appearance of an item. Firstly, registered designs are intended to safeguard designs for industrial use. Why Register a Design By registering a design, you not only gain an exclusive right of ownership but also the right to prevent other people from using your design without your express permission. There are many ways you can leverage your design. By preventing other people from copying, you will safeguard your market share. Additionally, you could sell the design or license it to others for a fee.5. Common Law RightsThings such as goodwill, reputation, know-how, and confidential information are protected using common law. However, Singapore does not have specific statutory legalization.