June 30, 2016

RHTLaw Taylor Wessing Managing Partner Tan Chong Huat quoted in The Business Times

RHTLaw Taylor Wessing’s Managing Partner, Tan Chong Huat, was quoted in The Business Times article titled “RHTLaw Taylor Wessing merges with Vietnam law firm to deepen reach” The article was first published in The Business Times on 30 June 2016.    RHTLaw Taylor Wessing merges with Vietnam law firm to deepen reach Source: The Business Times © Singapore Press Holdings Ltd Date: 30 June 2016 Author: Claire Huang RHTLAW Taylor Wessing LLP has further strengthened its regional cross-border practice with the merger with PBC Partners & RHTLaw. The firm on Thursday launched RHTLaw Taylor Wessing Vietnam. The merger is in line with the Asean Economic Community (AEC) blueprint 2025 and follows RHTLaw Taylor Wessing's alliance with PBC Partners in early 2014, when they formed PBC Partners & RHT Law. The new outfit, located within the commercial centre of Ho Chi Minh City's District 1, will have presence across Ho Chi Minh City and Hanoi, with 25 lawyers covering a full suite of practice areas, including foreign direct investments, mergers and acquisitions, real estate, energy, hospitality and construction. Said Tan Chong Huat, RHTLaw Taylor Wessing's managing partner: "The merger signals our commitment to intensify our Asean growth strategy via our "Asean+" network. What started out as an alliance of like-minded law firms has now grown into a pre-eminent legal firm in Vietnam." He noted that Vietnam is one of the fastest growing emerging markets in the world and is poised to play an important role in the Asean economy. "Our base in Vietnam allows us to actively serve our clients' business needs across the region, providing on-the-ground counsel to guide them through the legal challenges posed by cross-border transactions and operations," said Mr Tan. RHTLaw Taylor Wessing Vietnam will be led by managing partner Tran Thanh Hai and senior partner Benjamin Yap. Mr Hai has over 20 years of legal experience and is well-regarded in the areas of mergers and acquisitions, banking and finance, telecommunications, among others. Mr Yap, a Vietnam-registered foreign lawyer who has been called to the Singapore and English Bar, has extensive experience in corporate and commercial transactions. He has more than 20 years of experience handling cases in the areas including mergers and acquisitions, real estate and corporate compliance. The law firm said that partners from the Singapore office will be seconded to Vietnam and vice versa, in the months ahead - a move aimed to boost knowledge transfer and capacity building. The latest venture in Vietnam is part of RHTLaw Taylor Wessing's strategy to bolster its service offerings across the region. In the last few years, the firm has forged strategic alliances with leading Indonesian law firm, Hanafiah Ponggawa and Partners, and South Korean firm DR & AJU, together with several other leading firms in Asia under the Asean Plus group.
June 27, 2016

RHTLaw Taylor Wessing Managing Partner Tan Chong Huat shared his views on “Welcome to the internet of money” in this week’s Views from the Top

RHTLaw Taylor Wessing’s Managing Partner Tan Chong Huat shared his views in this week’s topic in the Business Times’ weekly column, Views from the Top. This article was first published in The Business Times on 27 June 2016. Welcome to the internet of money JUN 27, 2016 5:50 AM THIS WEEK'S TOPIC: How do you think fintech innovations can potentially impact your business, and your life? Tan Chong Huat Managing Partner RHT Law Taylor Wessing  LLP AS a global financial node with high number of technology users, Singapore is already on the global radar as a major international fintech hub. It is therefore not surprising that fintech's disruptive potential has been in sharp focus here. Fintech promises the delivery of more efficient, customer-centric and transparent financial services. Fintech platforms are also more nimble, able to adapt and customise the delivery of services quickly. Fintech platforms, must, however, not forget the "fin" in fintech - they are delivering financial services and will succeed only if they have a robust governance, risk management and regulatory compliance framework.
June 20, 2016

RHTLaw Taylor Wessing Head of Capital Markets Ch’ng Li-Ling quoted in The Edge Singapore article titled “Crowdfunders respond to new MAS rules, want more done for investor protection”

RHTLaw Taylor Wessing Head of Capital Markets Ch’ng Li-Ling was quoted in The Edge Singapore article titled “Crowdfunders respond to new MAS rules, want more done for investor protection”. The article discussed how the new regulations announced by the Monetary Authority of Singapore (MAS) on June 8 seemed to be surprisingly welcomed by local crowdfunding platforms as “the new regulations are drivers to safeguard the industry…”. Research by The Edge Singapore also revealed that several of the newest crowdfunding platforms are not deterred by the prospect of more regulation but are in fact already preparing to apply for a Capital Markets Services (CMS) licence. MAS has made it easier for these companies to secure a licence by lowering the base capital requirement from S$250,000 to S$50,000 and removing the security deposit requirement of S$100,000. Li-Ling gave her opinion that the new regulations put crowdfunding platforms under the oversight of the regulatory body (MAS) and give investors more protection. The full article dated Monday 20 June 2016, can be found in The Edge Singapore.
June 15, 2016

Singapore highly ranked in the latest Global Intellectual Property Index

RHTLaw Taylor Wessing and Taylor Wessing launched its fifth Global Intellectual Property Index (“GIPI5”), in which Singapore was highly ranked in the latest index. The Global Intellectual Property Index (“GIPI”) is the most comprehensive assessment of how intellectual property regimes around the world compare with each other. As business success is more dependent than ever on the effective management and protection of its intellectual property, the growth industries of today are intrinsically linked to those that are IP-rich and IP-intensive, such as new technologies, high-end design and media content. The latest GIPI5 index assessed the regimes of 43 jurisdictions, using more than 8,500 individual assessments from senior industry figures, balanced with 61 objective factors. Singapore has leapfrogged to 9th position this year, from 12th position in the previous GIPI survey. Jurisdictions were assessed and rated in relation to obtaining, exploiting, enforcing and attacking five key IP rights: trade marks, patents, copyright, design and data protection. Notably, Singapore led the field amongst ASEAN countries in its ranking on the patent index while also ranking 5th among the 43 jurisdictions in terms of copyright enforcement, cost-effectiveness, and exploitation. Roland Mallinson, partner and editor of GIPI5 commented: "The ever-growing value and role that IP has to play in our economies is receiving increasing recognition. Having a credible and effective IP regime is increasingly recognised as a stimulus for home-grown innovation and investment.” "It is crucial that all IP regimes are reviewed and updated on a constant basis. Those that are not will hamper the innovation, entrepreneurialism and competiveness of their domestic businesses and discourage inward investment into their countries." Jonathan Kok, Head of Intellectual Property & Technology at RHTLaw Taylor Wessing said, “It is very encouraging to see the level of IP protection in Singapore improve over the years. As we move to a future driven by knowledge and innovation, it is even more critical for Singapore companies to continue supporting and protecting IP, and to ensure that our businesses and investors remain confident and committed to protect IP in Singapore and the region.” “IP is a key driver of Singapore’s economy, and having a business-friendly IP regime has been instrumental to our growth. With the robust IP ecosystem Singapore has created, businesses can continue to leverage on IP to create added value from their technology, brands and content,” he added. GIPI5 adds seven new countries and highlights some of the key themes across IP regimes including increasing harmonisation and the cost-effectiveness of litigation. Those countries that deliver a functioning, efficient, fair, predictable and transparent IP regime are likely to be those that will benefit most from the increasing investment being made in the field. Previous editions of GIPI have attracted widespread comment, been referred to by IP creators and users, as well as public officials and legislators. This latest report reflects on a number of high-profile changes in the law since the last report, GIPI4, which was issued in November 2013.  To view GIPI5, please click here. To request a hard copy please click here. This article was featured in the below publications: “Singapore Highly Ranked In Latest Global Intellectual Property Index” – Conventus Law, 16 June 2016 “Singapore skips to 9th in global IP ranking” – The Edge Markets, 16 June 2016 “环球知识产权指数 我国进阶三位名列第九” – Lianhe Zaobao, 17 June 2016 About The Global Intellectual Property Index (GIPI) The Global Intellectual Property Index (GIPI) provides a comprehensive assessment of how the IP regimes of 43 important jurisdictions compare with each other. The European Union is treated as an additional jurisdiction in relation to IP rights that have been harmonised, i.e trade marks and designs. Each IP right (patents, trade marks, designs and copyright) is assessed as regards obtaining, exploiting, enforcing and attacking it. Each data protection regime is measured against the criteria of fairness, enforcement, compliance, administrative burden and disruption, each of which is explained more fully in that section. This is our fifth GIPI report (GIPI5). The results are the statistical output from a worldwide survey of IP owners and users giving over 8,500 assessments, as weighted bearing in mind data from 61 objective sources (or "instrumental factors"). The latter includes published empirical data, such as the number of patent or trade mark filings and grants, the value of royalty fee payments, R&D expenditure and the origin of counterfeits as seized by customs. The first report (GIPI1) was issued in May 2008. It covered 22 jurisdictions and just trade marks, copyright and patents. GIPI2 was released in May 2009 and included two further jurisdictions and two further IP rights (designs and domain names). GIPI3 was issued in 2011, covering the same 24 jurisdictions. It introduced a data protection index to replace the domains name (one which saw little change). GIPI4, issued in November 2013, covered the same IP rights and added in a further 12 countries. The results and our analysis were also made available online using an interactive map at www.taylorwessing.com/ipindex.