From next year, Malaysian companies, as well as international bodies, would find it easy to file intellectual property ownership. Similarly, they would also receive an improved protection of IP rights when the country joins the Madrid Protocol next year. This statement was made by Deputy Minister of Domestic Trade and Consumer Affairs Chong Chieng Jen.
Chong stated that this move would provide trademark protection for businesses and would also assist them to bolster their products and services internationally and locally through the use of a single application.
The international registration system is supervised by the International Bureau (IB) of the World Intellectual Property Organization (WIPO). It would help the businesses to go abroad. He gave this information after overseeing the seminar on ‘Protecting Your Trademarks and Inventions Overseas: WIPO Services and Initiatives for Malaysian Business.
Chong stated that there were many challenges in order to obtain IP protection all over the world. It can be done by joining the Madrid Protocol. Through this Malaysian businesses would be receiving protection from across 150 member nations.
Chong added that the ministry was in the process of withdrawing the present Trade Marks Act 1976 and come up with a new Trade Marks Act that is going to be placed in the Parliament very soon. It would allow Malaysia to accept the protocol.
Till 2018, there have been 32,481 applications from trademark owners from different industries; whereas 24,020 registrations have been placed forward till September.