GEORGE TOWN: The number of companies in the country going for intellectual property (IP) protection this year is expected to rise by 10%-20% from about 30,000 last year, says Intellect Worldwide Sdn Bhd corporate manager Adelyn S H Chin.
Under IP protection, a company can go for patent, trademark, copyright and industrial design registrations.
“We expect an increase this year because there are many small and medium enterprises (SMEs) that want to enhance their competitive edge and protect themselves against piracy, especially during this economically challenging period.
“Nowadays they are also more aware of the need for IP protection,” Chin told StarBiz.
She said most of the applicants would be from the SME sector and tertiary educational institutions.
“About 50% will go for patent protection and another 20% for trademark protection. Tertiary educational institutions usually go for patent registration to protect the fruit of their research,” she said.
However, after getting IP protection, companies were reluctant to spend on branding exercises, Chin said.
She added that a SME on average spent about RM20,000 a year for branding, which was not sufficient.
“A reasonable budget for branding exercises should be between RM40,000 and RM50,000 a year. They should spend because branding can help maximise the full potential and value of the IP protection,” she added.
Chin said Intellectual Worldwide would present a half-day talk on IP branding in Penang on July 18.
“The talk is recommended for SMEs looking to leverage their wealth via branding exercises and IP protection,” she said.
Headquartered in Penang, Intellect Worldwide provides IP protection and branding services.
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