MyIPO launches IPR Marketplace Portal
The Intellectual Property Corporation of Malaysia (MyIPO) officially launched the IPR Marketplace Portal on June 27 2014. The IPR Marketplace Portal was launched by the minister of domestic trade, co-operatives and consumerism, YB Dato' Sri Hasan bin Malek. The portal is available at http://iprmarketplace.com.my/.
IPR Marketplace is an initiative driven by MyIPO, as mandated by the government, to bring together and connect individuals, investors and businesses for the purpose of commercialising and trading in IP rights. The portal is therefore a pioneer platform providing opportunities for investors and entrepreneurs to list their IP rights in order to facilitate and nurture a vibrant marketplace for the trading of intellectual property on a global market platform. The portal enables IP owners to put their patents, industrial designs, copyright and trademarks up for sale or out-licensing. Members of the public can also rely on the IPR Marketplace Portal when searching for IP rights to buy or in-license, or when looking for partners for innovation projects.
There are cumulatively about 164 trademarks, copyrights and patents listed on the portal. Most of the IP rights listed are available for licensing, with several patents also being offered for sale. Some of the IP owners who have offered their IP rights on the portal for sale or licensing include:
- public research universities, such as Universiti Malaya, Universiti Teknologi Mara and Universiti Putra Malaysia;
- research and development centre Mimos Berhad; and
- communication company Telekom Malaysia Berhad.
Under the 2013 budget, the government allocated RM19 million to MyIPO to develop a system for the valuation and financing of intellectual property in Malaysia. The launch of the IPR Marketplace Portal is therefore in line with the government’s initiative to promote the valuation of intellectual property, and to provide opportunities for the use of intellectual property as collateral for the financing of businesses. Apart from the launch of the IPR Marketplace Portal, MyIPO has - with the cooperation of the World Trade Institute, University of Berne, Switzerland - created an IP valuation training programme, which was launched on March 7 2013. MyIPO also launched an IP Valuation Model on November 6 2013.
The launch of the IPR Marketplace Portal reinforces the commitment of MyIPO towards the development of IP financing, by encouraging its use as collateral by small and medium enterprises in Malaysia to expand their businesses.
Janet Toh Yoong San, Shearn Delamore & Co, Kuala Lumpur
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