KUALA LUMPUR, Nov 12 (Bernama) -- The Intellectual Property Corporation of Malaysia (MyIPO) has received over 335,000 applications for intellectual property (IP) registration from 2019 to this year.
Its deputy director-general (Management), Sheikh Ariffin Sheikh Mohd Noor said that out of that number, 211,000 or 60 per cent of the applicants were from abroad, while the rest were Malaysians.
He said that his team is planning to carry out promotions and marketing to ensure that applicants among the local population can be balanced with foreign applicants in the next three years.
"MyIPO is conducting various promotions and marketing efforts to ensure that we achieve at least a 50-50 ratio (applicants from within and outside the country) in the near future," he said.
"We also aim to collaborate or form smart partnerships with government agencies and non-governmental organisations (NGOs) so that local entrepreneurs will know where to register their IP."
He told Bernama this after officiating the National Training Seminar on IP Valuation 2024 programme at Menara MyIPO today.
Additionally, Sheikh Ariffin said MyIPO will collaborate with Bank Negara Malaysia and local financial institutions to make IP one of the instruments that can be used as collateral.
"This is aimed at opening up greater financing opportunities for local companies, especially small and medium enterprises (SMEs), which often face difficulties in obtaining financing for their business development.
"I am confident that if intellectual property is accepted as collateral, it will open new opportunities for financing and support more innovative efforts in Malaysia, thereby strengthening Malaysia's role as a regional leader in the use of IP for economic development," he also said.
He added that the introduction and recognition of IP as a valuable asset will pave the way for local companies to continue to grow, compete in the global market, and contribute to the country's economic prosperity.
-- BERNAMA
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