MALAYSIA’S IP FILING FUND 2.0
In recent years, many businesses were severely affected due to the COVID-19 pandemic. As businesses navigate through the MCO period, they will have less resilience and flexibility in dealing with the expenses. Hence, a lot of businesses will have to delay or forego certain business services such as Intellectual Property (IP) filing.
It is vital for business owners to recognize that intellectual property is a precious commodity that will only become more valuable as the dominance of the digital world continues. Here comes the good news for Malaysians as our Government has allocated a total of RM4 million for the “Intellectual Property Filing Fund 2.0” under the Malaysian Intellectual Property Corporation (MYIPO) for a four years period from this year 2022 until year 2025.
Objective of the Fund
With the launching of this fund by the Malaysian Government, it is hoped that this fund can help ease the burden of local business owners, especially small and medium enterprises (SMEs) and increase their competitiveness through the protection of intellectual property and stimulating the national economy.
The grant is eligible to those fulfilling the criteria below:
- Malaysia citizen aged above 18 years old;
- Small and Medium Enterprise (SME) Companies/ Sole Proprietorships/ Partnerships;
- Innovative and Creative Group (KIK) Agency/ Ministry;
- Students of Local Colleges/ Skills Institutions/ Polytechnics/ Institutions of Higher Learning and equivalent; and
- Primary/ Secondary School Students (application is under the name of the school)
Each applicant is eligible to apply for ONE fund in a calendar year for application filing for one of the following components of Intellectual Property:
- Industrial design; and
The application for this grant begins in January 2022 and is due on the 30th of June 2022. This grant is subject to quota and it is on first come first serve basis. The application will be available every year for 4 years until year 2025.
- The funding for the “IP filing fund 2.0” covers the official fee for filing an Intellectual Property application to MYIPO; and the search and drafting costs by a patent agent appointed by MYIPO (for patent/ UI applications)
Funding will be given to successful applicants in the form of vouchers. Vouchers provided are non-transferable.
|Types of Intellectual Property||Scope of financing|
|1) Trademark||Form TMA1- Preliminary Application and search form|
|Form TMA2- Trademark registration application form|
|Form TMA4- Substantive examination applications are being expedited|
|2) Patent/UI||Form 1- Patent Application form; or |
Form 14- Application for issuance of UI renewal certificate
|Form 5- Request form for substantive examination|
|Form 17- Patent agent appointment form|
|Form 22- Statement form justification of the Applicant’s rights to the patent/certificate|
|Cost of patent agent services to conduct a patent search (prior art search)|
|The cost of patent agent services for the drafting of patent specification and the cost of completing forms related to patent filing|
|3) Industrial Design||Form ID1- Industrial design application from & (point of view as approved by the Intellectual Property Fund Selection Committee)|
|Form ID9- Application amendment request form for registration of industrial design.|
|4) Copyright||Form CR1- Work Notification Form; or Form CR2- Notice of Published Works|
|Form CR5- Copyright notification certificate request form|
|Work submission fee (as approved by the Intellectual Property Fund Selection Committee)|
|5) Geographical Indications||Form GI 1- Application form for registration of a geographical indication|
|Form GI 3- Ads for registration|
Undeniably, Intellectual Property contributes enormously to our national economy as IP encourages innovation which is a crucial element in driving the economic growth. The known purpose of innovation is to create more effective processes, products and ideas, of which in turn creates more job and market opportunities. It helps us extract as much value as possible from our resources, our time and our effort. However, this comes with the risk of copycats, plagiarisms or idea theft which will take advantage of an innovation to distribute and use as their own, reaping the benefits from someone else’s hard work. Hence, it is in the best interest of the innovator to seek a protection for their innovation through Intellectual Property Rights. Whether someone is a business owner, a researcher, a student or simply a person with an idea, everyone would benefit from an IP protection in the long run.
Find out more on the ‘IP Filing Fund 2.0’ or on how to apply for an Intellectual Property Protection here.