ASEAN companies offer financial assistance to settle technical disputes

Businesses based in Southeast Asia can now access financial assistance to resolve their technology or intellectual property (IP) disputes.

Introduced under a new initiative led by Singapore, funds of up to SG$8,000 ($5,915) are available for each case, but unless otherwise agreed, the money will be shared equally between all parties involved.

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Funding assistance is provided under the World Intellectual Property Organization (WIPO) Singapore ASEAN Arbitration Program and is available to individuals or business entities involved in disputes related to IP or technology.

To be eligible for the Fund, at least one party must be an ASEAN national or entity. currently there are 10 member countries In the Association of Southeast Asian Nations (ASEAN), which includes Indonesia, Thailand, Malaysia and the Philippines.

The subsidy scheme is led by the WIPO Singapore Office and the Intellectual Property Office of Singapore (IPOS) and supported by the WIPO Arbitration and Mediation Centre.

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Amidst the global increase in IP and technology disputes, there is growing interest in alternative dispute resolution in the region, according to Thithapha Vattanapruttipasan, director of the WIPO Singapore office.

“We hope that more businesses in ASEAN can benefit from arbitration as a viable and cost-effective solution to their IP or technology disputes,” said Vatnapruttipasan.

IPOS chief executive Rena Lee urged businesses to negotiate the terms of such deals as well as viewing arbitration as the “preferred option” to resolve disputes involving IP or technology. In the latter case, the mediator will help navigate the involved parties toward an agreement, such as during ongoing patent-licensing discussions.

Under the new scheme, the arbitrator must be based in Singapore and the request for funding must be made to the WIPO Center by December 31 this year. The arbitration may be conducted online or at any on-site location, but the arbitrator must still be located in Singapore.

Funds will be disbursed regardless of whether disputes are resolved or not.

Singapore has a decade-long roadmap to 2030 that aims to boost its role as a global hub for intangible assets (IA) and IP. The roadmap includes changes to its legislative framework involving the use of big data and artificial intelligence (AI) technologies.

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In 2019, Singapore partnered with eight ASEAN IP offices on a two-year pilot project to prioritize patent applications in key emerging technologies such as fintech and cyber security. Efforts were made here to promote the city-state’s role as a hub to facilitate technical work for Singapore and ASEAN, and to promote economic growth.

The present Director General of WIPO is from Singapore. Darren Tang, who was appointed to the role in 2020, making him the first person from the country to hold the top role at the United Nations (UN). WIPO is a self-financing agency under the United Nations.