Ministry focuses on monetising IP rights

Kuala Lumpur: The Domestic Trade, Cooperatives and Consumerism Ministry is now focusing on creating better understanding in monetising intellectual property (IP) rights through IP valuation, IP financing and IP marketplace.This will contribute to our nation's quest to attain a high-income economy, its minister Datuk Hasan Malek said in his speech at the launch of IP Valuation model and Global IP Valuation Conference here Wednedsday.

The Government through Intellectual Property Corporation of Malaysia (MyIPO) has trained seven professionals from the financial, technical and law fields to become IP Valuers for Small and Medium Enterprises (SMEs) to valuate their virtual IP.

The initiative is aimed at helping innovators and creators receive recognition and putting a value on their IP where they can now seek financial assistance.

Hasan said the IP Valuation model has also been created to provide clarity and standards for various stakeholders and key players to implement a valuation methodology that is acceptable to private financial institutions.

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Previously, only international IP valuers could be engaged by companies, and they could cost about US$30,000 to US$40,000.

Also present were the ministry's Secretary General Datuk Saripuddin Kasim; Under Secretary for Loans Management, Financial Market and Actuary Division, Ministry of Finance (MOF) Zauyah Mohd Desa; and Director General of MyIPO Datuk Azizan Mohd Sidin.

Currently 23 more experts are being trained in the country, and they will be certified by MyIPO and the World Trade Institute, University of Berne, Switzerland by year-end.

Meanwhile at the press conference, Azizan said to be eligible for funding, SMEs must first be registered with MyIPO before engaging an IP valuer.

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"One of the ways to value non-physical IP is by looking at the company's stream of financial income," Azizan said, adding IP is not just to protect companies but is also a financing tool.

To kick-start the implementation, Zauyah said the government through MOF allocated RM200 million in the 2013 Budget for SMEs with a two per cent interest rate subsidy of interest and loans of up to 80 per cent. - Bernama

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