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Need for more IP Protection for Malaysian companies venturing overseas

Need for more IP Protection for Malaysian companies venturing overseas
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MATRADE urges Malaysian companies to protect their Intellectual Property before venturing into foreign markets

Malaysia External Trade Development Corporation (MATRADE) organised a Seminar on “Effective Intellectual Property (IP) and IP Tax Management Strategies for Global Success – SMEs Perspectives” at Menara MATRADE today to generate more awareness on the importance of IP protection among Malaysian companies when venturing overseas.

The seminar was attended by MATRADE’s Chief Executive Officer Dato’ Dzulkifli Mahmud and the speakers at the seminar were from Intellectual Property Corporation of Malaysia (MyIPO), Adastra IP Sdn Bhd and YYC Advisors. The seminar has provided insights on strategies for Malaysian companies to increase the value of their brands globally through IP protection in areas such as trademarks, patents and copyrights. During the seminar, the participants were also exposed to information on utilisation of IP in attracting funding and investments.

According to Dato’ Dzulkifli Mahmud, IP protection is imperative for Malaysian companies that are involved in exporting. “When companies are not protecting their IP in the countries they are venturing into, their business will most likely be facing various difficulties in becoming an industry leader. Their competitors will be leveraging on their hard earned research and developments, and their brands will be made vulnerable to copycats too,” he said.

According to MyIPO, since 1986 until September 2016, a total of 16,075 applications from Malaysian companies have been received, of which only 3,608 applications were approved. In contrast, applications made by various foreign brands in Malaysia were 133,368 and 54,789 were approved. The staggering difference is indicative of the lack of awareness in IP protection among Malaysian companies.

“MATRADE would like to encourage Malaysian companies to take full advantage of IP protection for the benefit of their companies. IP is such an important subject, so much so it is one of the most discussed issues in every Free Trade Agreements negotiations,” Dzulkifli said.

SOURCE: Ministry of Trade, Malaysia

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