Saifuddin Nasution (left) during a press conference with Regional Office in Singapore WIPO director Denis Croze. — Bernama photo
GEORGE TOWN: Entrepreneurs have been asked to register their product brands with the Intellectual Property Corporation of Malaysia (MyIPO) to enable them to join the Madrid Protocol and receive many benefits from it.
Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail said entrepreneurs would only need to make a single application to MyIPO to register their brands in 122 countries participating in the Protocol once the Trademarks Act 2019 came into force on Dec 27.
“The Trademarks Act 2019 which was passed by Parliament last July has allowed the country to join the Madrid Protocol and this is also an opportunity for entrepreneurs as previously they had to register their brands through agents from abroad to expand the scope of brand protection.
“Through the Madrid Protocol, it (registration) can be done quickly and improve the country’s performance and ranking in terms of ease of doing businesses,” he told reporters after officiating a seminar on the implementation of the Madrid System here yesterday.
The seminar which was organised by MyIPO in collaboration with the World Intellectual Property Organisation (WIPO) and the Malaysian Intellectual Property Association was attended by 120 participants comprising Small and Medium Enterprises entrepreneurs and temporary registration agents.
Meanwhile, Saifuddin Nasution said the seminar would be expanded to other states to provide information, clarification and understanding to entrepreneurs, local companies and registration agents regarding the Madrid Protocol.
He said the registration system would also help local entrepreneurs and companies to register their trademarks overseas at a lower cost compared with the existing system.
“The 122 countries include the United States, Australia, the United Kingdom, Brazil, Thailand, Singapore, and Indonesia,” he said.
The Madrid Protocol is a treaty administered by the International Bureau of WIPO that will facilitate local businesses to grow overseas. — Bernama