(ip) hub master plan - Ministry of Law

IP exchange
3.2.6. An IP exchange is a trading platform where IP-based instruments are listed and
traded with publicly available information pertaining to the trading volume and
pricing. This is still a relatively “greenfield” area, and there are various forms of
exchanges worldwide at different stages of development. One example in the US
aims to list and trade “standardised licenses” of patents to facilitate efficient mass
licensing. New market models that attempt to trade other IP-based financial
products are also emerging, thereby allowing IP owners to monetise their IP assets.
Digital copyright licensing exchange
3.2.7. Among the various possible forms of IP rights trading, the area of copyright
licensing warrants special attention due to the transformational changes brought
about by the digital age. In line with changing consumer needs, there has been a
proliferation of new forms of digital services across different types of copyrighted
content, and the rise of digital forms of content has been accompanied by the
increase in ease with which content can be disseminated across borders. As a
result, existing models of global royalty collection are being challenged to keep
pace, while global service providers grapple with a complex web of fragmented
copyrights which are territorial and residing with various different rights holders.
3.2.8. Digital copyright licensing is clearly an area that will require strong international
cooperation to address new business needs and be made more efficient. Some
international efforts are already underway to address these challenges, notably the
International Music Registry facilitated by WIPO, the Global Repertoire Database
set up by the EU for licensing music, and the Digital Copyright Exchange in the UK
for licensing copyrighted works (e.g. music, images, publishing, and audiovisual
clips). All of these initiatives are underpinned by similar objectives of facilitating
and streamlining the licensing process in the digital environment.
3.2.9. The Committee has also received feedback that Singapore’s music copyright
licensing industry could be better organised to facilitate the entry of new digital
content service providers, and to allow local businesses to obtain licenses to use
copyrighted works more easily.
Recommendation 1-2
Collaborate with industries to establish a one-stop licensing platform that allows
users to easily obtain licenses for relevant forms of copyrighted works in Singapore,
and grow it over time to potentially support the licensing markets in the region.
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