Just like to share some facts and figures from the newspaper yesterday during the launch of the National Intellectual Property Day 2007:
It was quoted that the government would like to "help lower the cost of patent registration, which sometimes can be up to RM40,000". This means a person can apply for patent for less than RM40,000.
In addition, the Prime Minister mentioned that the time taken to obtain a patent for an innovation is too long (seven years), which by the time the patent is acquired the invention would be outdated. The current average time to acquire a patent for an invention in Malaysia is 4-5 years, while the international standard took 3 1/2 years.
Since 1986, 87,846 applications for patent were received by the IPC Malaysia. However, only 29,432 or 33.5% were approved. From that, less than 20% of the application came from Malaysia.