Intellectual Property Filing Fund 2.0 worth RM2 mln launched

Domestic Trade and Cost of Living Minister Datuk Seri Salahuddin Ayub said the facility covers the filing fees for all intellectual property components, including costs for works that require professional and technical services such as patent drafting.

Through the fund, the government will also cover the cost of filing trademarks, copyrights and industrial designs, he said.

"It is hoped that this fund can ease the burden of local entrepreneurs and increase their competitiveness through the protection of intellectual properties, thus stimulating the country's economy," he said in his speech when launching the fund here today.

MyIPO had initially offered the same fund amounting to RM2.5 million from 2016 to 2020, which has benefitted 1,465 entrepreneurs.

Salahuddin said the fund distribution would depend on the type of services required by entrepreneurs, and applications can be made online via https://tinyurl.com/DanaIP2bagiTahun2023 or manually by visiting the nearest MyIPO branch.

Speaking to reporters later, he touched on the situation of art activists, especially veteran artistes who did not register their works and had to suffer losses because they did not get to enjoy the royalties.

"Our country is a bit behind in commercialising creative products in the form of intellectual properties.

"Every citizen who has the capacity to produce intellectual property needs to register their products so that they can be given legal protection and at the same time commercialise their products and increase their income," he said while advising art activists who have yet to register their works to do so.

In 2022, MyIPO received 329,917 intellectual property applications from home and abroad, of which 128,822 were local intellectual properties.