In order to be eligible for a patent, an application must be first filed in Singapore and contain 20 or fewer claims. The request for the grant of patent and request for search and examination report forms have to be filed on the same day.
Smart Financial Centre
The applicant then needs to respond within two weeks from the date of receipt of formalities examination adverse report and within two months from the date of receipt of written opinion.
The new initiative supports the Monetary Authority of Singapore’s S$225 million ($169.5 million) fintech funding scheme launched in 2015, which is designed to bolster the development of financial technology in the city-state.
MAS fintech chief Sopnendu Mohanty told finews.asia earlier this week that he wants Singapore to become an oasis for fintechs, with huge economic benefits for the city-state.
Financial technology patents could be obtained in as quickly as six months, the Intellectual Property Office of Singapore said in a statement on Friday. The government unit launched a fintech «fast track» scheme streamlining the patent application-to-grant process for fintech inventions
https://www.finews.asia/finance/26809-singapore-speeds-fintech-patent-process
