Malaysia announces ambitious plans for new IP regime

Malaysia

The Malaysian government has launched its ambitious National Intellectual Property Policy (NIPP) which aims to, among other things, harness intellectual property as a new engine of growth for the enhancement of economic and social prosperity.

In recognizing the critical role of intellectual property in enhancing the country's long term competitiveness in a knowledge economy, Prime Minister Dato' Seri Abdullah Badawi hopes that the NIPP will create an environment that:

  • encourages continuous creation of intellectual property;

  • develops efficient and effective IP protection and enforcement systems; and

  • fosters greater commercialization of intellectual property.

In addition, the NIPP has the following key objectives:

  • Extending IP management capabilities both in the public and private sectors;

  • Developing better infrastructure for IP-based transactions, particularly trading, licensing, collateralization and securitization;

  • Creating a large pool of experts for the management of intellectual property and raising the level of IP awareness among the public; and

  • Encouraging greater foreign investment and technology transfer by guaranteeing the highest standard of IP protection.

As part of the implementation of the NIPP, the Malaysian government has also announced the following important measures:

  • The setting up of a M$5 billion ($1.4 billion) fund for the purpose of promoting the growth of IP.

  • The establishment of a special Intellectual Property Court (IP Court) to expedite the disposal of IP-related cases.

  • The creation of a National IP Institute to provide specialized IP training programmes as well as to raise general awareness about intellectual property.

The IP Court is likely to be functional by mid-June of this year.

Undoubtedly, the unveiling of the NIPP represents a very significant milestone in the long march for greater recognition and protection of IP rights in Malaysia. It is hoped that, through a structured implementation, a more conducive environment for the creation, protection, enforcement and maximum exploitation of intellectual property will quickly take shape in Malaysia.

Teo Bong Kwang and Alan Ng, Wong Jin Nee & Teo, Kuala Lumpur

Unlock unlimited access to all WTR content