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To encourage and facilitate such innovations...
The aim of the Government of Malaysia is to encourage an environment where research and innovation will flourish. Innovation is of key importance in spurring economic growth in a developing country like Malaysia. The Government of Malaysia adheres to the principle that knowledge and ideas should be harnessed for wealth creation and societal well-being. The traditional resource-based economy is fast being replaced by a knowledge-based economy. Thus, Intellectual Property will become a key factor in driving this knowledge-based economy into the future. Under these circumstances, it is crucial that researchers in the respective industries continuously create new innovations.
To encourage and facilitate such innovations, the Government of Malaysia has put in place various funding schemes for the necessary research and development to be conducted. For this purpose, it is also imperative to provide a conducive environment, a secure mechanism, and a platform within which such innovations can be protected and exploited to the benefit of both the Fund provider and the Recipient.
Currently there is no national policy governing the ownership and Commercialisation of Intellectual Property of Government funded projects. Thus, there is a need to formulate a single policy which would encompass as widely as possible the various situations for the common application by the Government, Government Agency and Research Institution; (collectively referred to as Relevant Body) providing funding for research, development and Commercialisation purposes. This Intellectual Property Commercialisation Policy seeks to address these problems.
The Objectives of the policy are:
- To establish a common framework to regulate the ownership and management of Intellectual Property from the creation, protection, innovation, exploitation, and technology transfer activities carried out by the Relevant Body.
- To promote and facilitate the protection of Intellectual Property in line with the National Intellectual Property Policy.
- To promote and facilitate the exploitation and commercialization of Intellectual Property generated from projects funded by the Government of Malaysia.