Prime Minister Pushing IP Monetization as New
Source of Revenue in Malaysia

IP News and Information

Have you heard of IP monetization: the process of commercializing and/or capitalizing financially on your intellectual property? If you’re reading this then chances are you’ve already come across the term before. While IP monetization has been around for many years, it is still something that is relatively obscure to many people, even those who work in fields that deal with intellectual property on a regular basis. However, “there is no question that IP monetization is real and that it is a growing trend amongst individuals, corporations and universities alike,” according to IPTrader president, Arlen L. Olsen. In fact, even entire countries are starting to see the vision of the financial possibilities that can be obtained through monetizing intellectual property.

Can IP Monetization Turn a Nation’s Economy Around?

Selling and licensing IP is a growing endeavor amongst some of the largest companies in the world and it has been for some time. With the likes of IBM, Nokia, Microsoft and Google, to name just a few, continually putting an increasing focus on obtaining, protecting and licensing IP, the monetization realm has grown significantly. Many entities in the U.S., China, Europe and several other countries are already looking for and finding ways to monetize their IP. Now add the entire country of Malaysia to that list. That’s because the country’s Prime Minister recently launched a so-called roadmap strategy for IP monetization. The Prime Minister sees IP monetization has a way to increase the nation’s revenue and actually transform the country’s economy.

Time for Malaysia to Get Innovative

Prime Minister Datuk Seri Najib Razak said his country, as a whole needs to become more competitive in the world economy and thereby decrease the country’s dependence on other countries for economic help. He hopes that IP monetization will be a big source of new wealth for Malaysia. In order to see this plan be successful, the Prime Minister also mentioned that they must be more innovative in coming up with new intellectual property. He also said that in order to create high-impact technologies and products that they need to continually produce added value to their IP. This will help the country in both the local and global markets.

Sharing Ideas With the World

Mr. Najib, who is also the country’s Finance Minister, said that because Malaysia already has ties with India, China and the ASEAN countries it needs to start increasing its exports of cultural and artistic goods via its own creative enterprises. Mr. Najib noted that there has been an annual increase in the number of applications for intellectual property in the country, which proves that IP could be an excellent source of economic growth that could contribute greatly to the county’s overall financial strength. To that end, the Malaysian government is considering the possibility of providing an allocation in order to promote more IP rights applications. The Prime Minister also called for banks and financial institutions to give more consideration to projects that are based on IP rights because many IP inventors and owners lack the funds to get their inventions or products off the ground.