Malaysians Can Invent and Innovate – The Next Step: Commercialisation and Protecting Rights
Kuala Lumpur: Home-grown boutique intellectual property firm KASS International Sdn Bhd is proud to be the main sponsor of the 21st International Invention, Innovation and Technology Exhibition (ITEX 2010), a major annual event that is a testament to Malaysia’s potential in the areas of invention and innovation.
The event complements the government’s Malaysia Innovation and Creativity Year 2010 initiative and was officiated this morning at the Kuala Lumpur Convention Centre by Science, Technology and Innovation (MOSTI) Minister, Y.B. Datuk Seri Dr. Maximus Johnity Ongkili.
The figures so far look set to set new records in the exhibition’s history. In the course of the next 3 days, 650 inventions from more than 24 industry categories will be showcased and more than 11,000 visitors are expected to visit the exhibition.
“The fact that ITEX has been going on for 21 years shows without a doubt that Malaysians can invent and innovate. The time is ripe to focus on commercialisation of which the vital component would be protecting IP rights. Only when IP rights are protected, can inventors and investors stand to gain from their hard work such as through royalties and licensing. This is the path that will lead our country into the next stage – of being a knowledge-based economy,” says P. Kandiah, Managing Director of KASS International.
“The quality of Malaysian research should not be disregarded. Numerous advancements throughout the years have proven that our skills are becoming highly sought after. It’s time to be savvy in capitalising on these skills. For instance, some of the products that are being exhibited are prototypes or are in early stages of development. This makes it relatively easier for the investors to obtain the rights at lower cost since the full potential of the invention is yet to crystallise. The revenue that can be gained thereafter by an insightful investor could potentially be on a global scale,” he adds.
KASS’ sponsorship of ITEX 2010 comes as a strategic move to further cement the company’s presence in the industry. The sponsorship follows the firm’s success in 2009 by emerging as Malaysia’s top patent drafting and filing firm for local applicants.
“Based on statistics from the Intellectual Property Corporation of Malaysia (MyIPO) and our own figures, we were the top patent drafting and filing firm for local applicants last year. It is a good fit for us to be associated with ITEX 2010, where some of the best inventions from Malaysia and abroad are being showcased. ITEX 2010 is an ideal platform for investors from all over the world looking for technological solutions to engage directly with researchers and inventors. This in turn leads to potential for new products and markets for Malaysia,” says P. Kandiah.
KASS International will continue to offer professional services that will simplify the process for clients in patent drafting and filing. As more Malaysians invent and innovate, encouraged and supported also by the government with MOSTI initiated funds such as the Sciencefund, Technofund, and Innofund, engaging the services of a reputable and professional firm to handle IP matters is becoming crucial.
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