PETALING JAYA: The Intellectual Property Corporation of Malaysia (MyIPO) will examine the need to offer a special fee to TikTok Shop merchants who wish to register the copyright and trademark of their online business.
MyIPO chairman, Dr Mohd Zuhan Mohd Zain, said the pricing would be finalised by the beginning of next year, at the latest, after discussing with the management of the TikTok social media platform.
"Usually, the registration price is RM950 for 'trademark' and RM200 for 'copyright'. However, merchants can check the registration beforehand to ensure no overlap with other parties at a rate of RM200.
"It is very profitable because merchants only need to register once, and it can also be used on platforms other than TikTok for 10 years (10 years for trademarks and 50 years for copyright)," he said after the signing of a memorandum of understanding (MOU) between MyIPO and TikTok here on Monday (Nov 6).
Mohd Zuhan said he encouraged all merchants to register immediately to avoid infringement of intellectual property.
Meanwhile, he said less able merchants can register businesses for free with the Intellectual Property Filing Fund 2.0 (IP 2.0).
RM4 million has been allocated for the Intellectual Property Filing Fund 2.0 initiative under MyIPO for four years, from 2022 to 2025.
At the MOU signing ceremony, MyIPO was represented by its director-general Kamal Kormin, while TikTok was represented by its Intellectual Property Rights Southeast Asia head, Simon Zhou.
This is the first collaboration between MyIPO and social media to date.
At the signing ceremony, MyIPO also launched the Palestinian Humanitarian Fund for two weeks to help the people of Palestine.- Bernama