Singapore legislation
Regulation 2
Regulation 2
Definitions
Subregulation 1
In these Regulations —
Definition
“existing intellectual property right”, in relation to a pioneer service company or a development and expansion company, means an intellectual property right that comes into the ownership of the company before 1 July 2018, and is not a right mentioned in paragraph (b) of the definition of “new intellectual property right”;
Definition
“intellectual property right” means a right conferred by any patent, copyright, trade mark, registered design, geographical indication, layout‑design of integrated circuit or the grant of protection of a plant variety;
Definition
“new intellectual property right”, in relation to a pioneer service company or a development and expansion company, means an intellectual property right that —
comes into the ownership of the company on or after 1 July 2018; or
comes into the ownership of the company after 16 October 2017 but before 1 July 2018 as a result of an acquisition by the company, directly or indirectly, from a related party, where the main purpose or one of the main purposes of the acquisition is to avoid income tax in Singapore or elsewhere.
Subregulation 2
For the purposes of these Regulations, a pioneer service company or a development and expansion company owns an intellectual property right if the company is the owner of the right or a grantee of a licence to the right.
Subregulation 3
For the purposes of these Regulations, royalties or other income is derived from an intellectual property right if it is receivable as consideration for the commercial exploitation of that right.
Subregulation 4
For the purposes of these Regulations, a person (X) is a related party of a pioneer service company or a development and expansion company (Y) if —
X, directly or indirectly, controls Y;
Y, directly or indirectly, controls X; or
X and Y are, directly or indirectly, controlled by a common person.