Greater Awareness For Intellectual Property Commercialisation
In an increasingly digital era with near-limitless accessibility, businesses will need to turn to Intellectual Property for long-term viability.
Intellectual Property is more than just protecting an idea or concept. Confidential business information and trade secrets fall under this umbrella too.
The growing need to protect business IP has prompted the Intellectual Property Commercialisation Council (IIPCC) to organise its inaugural MyIPComm22 Conference.
The Intellectual Property Commercialisation Council (IIPCC) is a global, non-government organisation (NGO) that provides a platform for innovators, entrepreneurs, enterprises and intellectual property (IP) communities to grow their understanding of IP and gather resources to harness the commercialisation potential of their creative and innovative IPs.
Held on May 27 2022 at the Asian International Arbitration Centre in Kuala Lumpur, the hybrid event saw the attendance of over 1,000 participants from Malaysia and around the world.
The conference, organised under the banner of MyIPComm22 is supported by main stakeholders including SAMENTA, the Malaysia Semiconductor Industry Association (MSIA) and Technology Depository Agency (TDA).
The ground-breaking conference aims to raise awareness of IP as a key asset class for business growth and economic development and to connect IP-rich companies with the financial support required to expand their businesses.
The conference saw key figures and experts in the IP field discussing topics such as…
- Traditional and Non-Traditional IP Disputes
- Non-Fungible Tokens (NFTs)
- The Metaverse
- Artificial Intelligence
- Intellectual Property in the IR4.0
- And current IP trends
Some keynote panel speakers include:
- Judge Ou Xiu Ping, the Deputy Chief Judge of the Intellectual Property of the Guangdong High People’s Court and the Vice President of the Shantou Intermediate People’s Court
- Jari Vaario, Head of Asia Patent Transactions & External Alliances, of Nokia
- Deborah Biber, Certified Advisory Board Chair, Board Member of the Pacific Basin Economic Council (PBEC) and Chairman of the UN ESCAP Sustainable Business Network’s Digital Economy Task Force
On the other hand, the event also saw the attendance of:
- YBhg. Datuk Seri Razali bin. Hj. Ibrahim, Chairman of Intellectual Property Corporation of Malaysia (MyIPO)
- Dato’ Seri Wong Siew Hai, President of Malaysia Semiconductor Industry Association-MSIA & former Vice President of Technology and Manufacturing Group of INTEL
- Patricia Chung, the President of IIPCC Malaysia
- Soh Eng Hooi, Forensic Accountant from EH Soh & Partners
- Michael Lim from Crowe Global Consulting
- Bahari Yeow, Partner of Messrs Gan Partnership (former Head of Intellectual Property Department of Lee Hishammuddin Allen & Gledhill-LHAG).
The ceremony was officiated by YB Datuk Seri Alexander Nanta Linggi, Minister of Domestic Trade and Consumer Affairs with choice commentary on the realities that could be made possible with Intellectual Property.
“With the right balance between the interests of innovators and the broader public interest, the IP ecosystem can foster an environment in which creativity and innovation can flourish; the idea of transforming intangibles into economic tradable assets is becoming a true reality and accessible to everyone,” stated Dato’ Seri Alexander Nanta Linggi.
So, How Does Intellectual Property Benefit Your Business?
Intellectual property can consist of a variety of assets. From physical products to creative assets like logos and corporate identity and even processes and services — these are some of the assets integral to a business. And most importantly, it differentiates what it does.
When these concepts are used without permission, that’s when businesses start to suffer.
As Patricia Chung, President of Intellectual Property Commercialisation Council (IIPCC), states in an interview with Asia News Today, “IP has become a business strategy whether you may like it or not.”
“So when you are dealing with an organisation whether small or big you may have to access confidential business information. In fact, it is under the umbrella of a trade secret,” added Patricia.
Keep Your Ideas Safe & Protect Your Intellectual Property
Great ideas for a product or service are often copied and profited off by others.
Depending on the area of intellectual property, some of the ways a business can protect their IP include patents, trademarks or copyrights.
These “licenses” can be used to prevent competitors or anyone from using your ideas for their own profit without your consent.
If you are a small business or entrepreneur, IP is especially important to ensure your unique product or idea is protected against competitors who might try to usurp market share.
Small and Medium Enterprises Association (SAMENTA) president, Mr Well Kam, highlights this benefit in his addressing speech during the conference “Companies and organisations can leverage this concept to scale their businesses further and cement their positions within the industry. This conference will be the door that opens opportunities in which we can harvest IP’s potential.”
Is The Process Difficult?
Though it may seem initially daunting and time-consuming, protecting your IP is actually easier than you think! And it’s definitely worth the time and effort.
For copyright, there is no application procedure to follow. Protection is free and automatic. But do note that copyright does not actually protect an idea itself.
What it protects is the way an idea has been represented — for instance, brochures, presentations, websites, flyers etc.
Patents, registered designs and trademarks, on the other hand, require an application process. This can be done through the Intellectual Property Corporation (MyIPO) of Malaysia. Or you can apply for a patent together with a patent solicitor.
Do bear in mind, however, that it is still your responsibility to ensure no one else is using your ideas and to check if your intellectual property has been infringed.
Discover IP Fundamentals & Get A Better Grasp On IP
The MyIPComm22 conference was not only a step toward greater awareness in Malaysia of Intellectual Property by IIPCC.
Patricia and her team at the Malaysian chapter have also expanded their efforts to prepare and upskill businesses and professionals on the fundamentals of IP by offering a 4-day certification course as part of their MyIPComm22 programme.
The MyIPComm22 Certification Course is geared toward those who want to expand their understanding of IP and network with like-minded professionals in the field.
It is also endorsed by HRD Corporation and is HRDF claimable.
“Raising awareness and introducing a white paper at the end of this conference will enable us to set up a local task force to move IP commercialisation together collaborating with the stakeholders and authorities,” summarises Patricia.
The MyIPComm22 programme takes place from May 2022 until September 2022 with a combination of private and public events.
For more information about MyIPComm, do check out their website.