SMEs should remember importance of IP rights

KUALA LUMPUR: Small and Medium Enterprises (SMEs) should not neglect the importance of intellectual property rights even when doing business on the e-commerce platform.
Associated Chinese Chambers of Commerce and Industry (ACCCIM) secretary-general Datuk Low Kian Chuan said poor and inadequate understanding of intellectual property rights will cause SMEs to lose their competitive advantage.
“The rapid growth of the e-commerce platform together with the use of big data technology and intellectual property rights enables SMEs and start-up companies to achieve their business goals.
“They need to have an overview of intellectual property rights on e-commerce platforms and learn some effective strategies to tackle these issues and challenges,” Low said when opening the Final Series of the Seminar on Practical Legal Issues Facing SMEs held at the Wisma Chinese Chamber here.
He said the understanding of SMEs in consumer behavior, social media usage, demographics and culture will help the companies to improve their business performance and reduce risk in the e-commerce sector.