Developing Intellectual Property Rights in Malaysia

Source: The Star
Date: 15 September 2008

LOCAL small and medium enterprises (SMEs) are encouraged to seriously look into developing intellectual property (IP) to fully safeguard their product innovations and brands in the competitive global market. IP Academy Singapore deputy chairman and external director Davie! Llewelyn said most Malaysian companies realised that IP assets played a vital role-in revenue generation and value creation in today's globalised economy.

" However, more can be done by these companies, especially SMEs to better exploit their rights to protect their products, designs and patents," Llewelyn told StarBiz recently.
He said local SMEs should be using different types of IP rights to create the assorted protective drcle around their business using branding, copyright, design protection, trademarks
and patents.

" Malaysia is probably behind some of the other countries in recognising IP but we have to play the IP game or margins will come down," said Llewelyn. Nevertheless, there is an increasing aware¬ness about the importance of IP around the region among SMEs in the last two years or so, as many SMEs have started implementing IP, especially in China.

" I have no doubt, Malaysian SMEs are capable of doing it but have they started it yet and when will they do it?," asked Llewelyn. He said following the success of the first Global Forum on Intellectual Property (GFlP) in 2006, which attracted over 450 international delegates from 25 countries, IP Academy planned to organise the second GFlP at Raffles City Convention Centre in Singapore on Jan 8 - 9, 2009. He said the forum would bring together IP thought leaders, leading IP practitioners and professionals around the world to discuss 'the legal, business and financial aspects of IP. "We try to educate companies, especially SMEs on how they can use IP positively.

''The SMEs' participation is important because by talking to similar businesses from other countries and listening to experts talk about what other SMEs have done may show them how they can start using IP rights to add value to their business," he said.Llewelyn expects 500 participants in the second GFlP. Of the total, 50 would consist of Malaysian companies and individuals representing law firms, accounting firms, banks, SMEs and Government agencies.