MyIPO (Amendment) Bill tabled for second reading in Dewan Rakyat

KUALA LUMPUR: The Intellectual Property Corporation of Malaysia (MyIPO) (Amendment) Bill 2017, which aims to streamline the role of the corporation, was tabled for the second reading in the Dewan Rakyat today.
Deputy Domestic Trade, Cooperatives and Consumerism Minister Datuk Henry Sum Agong said the bill was to improve the Intellectual Property Corporation of Malaysia Act 2002 (Act 617) which has not been amended since its enforcement in 2003.
He said the amendments were aimed, among others, at creating a new provision that is clear to allow MyIPO to set up subsidiaries, thus enabling it to empower and diversify its sources of income.
"It is to ensure the sustainability of MyIPO as the country's intellectual property administrator and to reduce dependence on government funds through income sources via the subsidiaries to be established," he said when tabling the bill.
Henry Sum said the move would indirectly reduce the government's financial burden, especially in terms of training cost, promotion and boosting innovation and creativity programmes in the country.

Meanwhile Rubiah Wang (BN-Kota Samarahan) when debating on the bill hoped the amendment would increase the protection of online intellectual property.
"With the development in technology, more people are uploading artworks online and on social media, which can easily be pirated digitally through downloads and sharing," she said, adding that such a regulation would enable action to be taken against those 'stealing' these works digitally.
Datuk Noor Ehsanuddin Mohd Harun Narrashid (BN-Kota Tinggi) said MyIPO empowerment was able to attract investors to invest in the country.
"If we have a strong framework in protecting intellectual property, then we can attract investors to manufacture products in the country," he said.
Earlier Dewan Rakyat approved the Malaysian Aviation Commission (Amendment) 2017), which among others, empowered the commission to impose financial penalties and impose charges on passengers at the airports for regulatory services once it is enforced. — Bernama