RM4mil allocated for intellectual property filing fund 2.0

KUALA LUMPUR: A total of RM4mil has been allocated for the Intellectual Property Filing Fund 2.0 under the Malaysian Intellectual Property Corporation (MyIPO) for a four-year period from this year until 2025.

Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi said the fund, which is under the 12th Malaysia Plan, is expected to benefit 2,000 entrepreneurs, especially the small and medium enterprises (SMEs).

“The fund covers fee financing for all intellectual property components filings, including cost for work which requires professional and technical services such as patent drafting.

“It is hoped that this fund can help ease the burden of local entrepreneurs and, thus, increase their competitiveness through the protection of intellectual property and stimulating the national economy,” he told reporters after launching the fund at the MyIPO Intellectual Property Academy here Tuesday (Jan 25).

Nanta urged more entrepreneurs to take advantage of the fund’s offer to acquire exclusive rights to their brands, pattern, design and works.

He also urged entrepreneurs to ensure that the registered intellectual property was fully exploited so as to generate returns for entrepreneurs and further improve the domestic economy.

The Intellectual Property Filing Fund 2.0 is a continuation of the encouraging response from the implementation of the first series, which was from 2016 to 2020.

During that period, a total of 1,465 entrepreneurs had benefited from the fund.

In the meantime, Nanta said the MyIPO recorded an increase in intellectual property applications last year, with 58,079 compared to 50,894 in 2020.

“Of the total, 21,275 were local intellectual property applications, with an increase of 5.8% compared to 2020,” he added. – Bernama

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