SINGAPORE: A new scheme will offer parties who opt for mediation to resolve intellectual property (IP) disputes with funding of up to S$5,500 per case, the Intellectual Property Office of Singapore (IPOS) announced on Monday (Mar 21).
The IP Mediation Promotion Scheme, which starts on Apr 1, is designed to help businesses and entrepreneurs leverage the strengths of mediation in achieving "customised, win-win solutions", IPOS said.
IPOS estimated that close to 30 IP disputes will benefit from the scheme over the next three years, adding that nearly 100 per cent of businesses and lawyers reported high levels of satisfaction from mediation in a State Courts survey.
Deputy chief executive of IPOS Chiam Lu Lin said mediation empowers businesses to take a "cooperative, consensus-led approach" towards resolving IP disputes.
"Enabling the constructive resolution of IP issues through such initiatives is part of IPOS’ ongoing mission to foster a pro-innovation environment for all creators," she added.