KUALA LUMPUR, May 14 (Bernama) — While intellectual property (IP) protection awareness is increasing among Malaysian companies, financial institutions are still adopting a wait-and-see attitude, Intellectual Property Corp of Malaysia (MyIPO) said.
Director-General Datuk Azizan Mohamad Sidin said the IP landscape has evolved from being merely a protective legal shield to a strategic and business tool for value generation.
“Companies not only use their IP rights to improve their competitive edge and generate revenue, but also to improve access to financing,” he told Bernama at the “IP Valuation Seminar with the Industry” Tuesday.
Azizan said MyIPO would continue to have engagements with local companies and banks to keep them abreast of developments in the industry.
In February, MyIPO commenced the training of 23 people with diverse backgrounds including law, accountancy, biotechnology, chemistry and business under its IP Valuation Training Module, an initiative aimed at creating a group of capable local IP valuers.
“The first tranche of the course, scheduled to “graduate” at the end of this month, will go through examinations to be certified, and they will be coached by foreign experts.
“Currently, banks are not giving out IP financing yet but we hope they will be more convinced when the IP valuers are from MyIPO,” he said.
He said once the whole initiative is completed, and when the banks see that the IP financing business is viable, it will definitely take off to new heights, given the immense government initiative in promoting this area.
One initiative is the RM200 million IP Financing Scheme offered through Malaysia Debt Ventures, which will provide a two per cent interest rate subsidy and guarantee of 50 per cent through Credit Guarantee Corp Malaysia Bhd.
“With more companies benefiting under this national IP valuation initiative, we are confident of developing an IP valuation model that is ‘Malaysian’ in nature and suitable for local industries and financiers,” he added.