Introduction:
In today’s fast-paced global market, protecting intellectual property has become paramount for businesses seeking to stay competitive. One crucial aspect of this protection is obtaining a patent. This article will delve into the essentials of patenting in Malaysia, covering what a patent is, why filing one is essential and what can be patented.
Understanding Patents:
What is a Patent?
A patent is a legal document granted by the government that gives inventors exclusive rights to their inventions for a specified period. In Malaysia, the Intellectual Property Corporation of Malaysia (MyIPO) oversees the granting of patents.
Duration of a Patent
20 years from the date of patent filing.
Why File a Patent?
Protection Against Imitation (COPYCAT):
Filing a patent safeguards your ideas, preventing others from making, using, selling, or importing your invention without your consent.
Monetary Value:
A patent can be a valuable asset, enabling you to license, sell, or even use it for fundraising, thereby generating revenue for your business.
Boosting Credibility:
Holding a patent demonstrates to investors, partners, and customers that your ideal or business is unique, innovative, and committed.
What can be patented?
In order to obtain a patent for one of your creations, it must first meet the legal criteria for being classified as an “invention”. By definition, an “invention” is simply an idea from an inventor that, when put into practice, solves a specific technological problem.
Examples of invention:
- Products: Devices, Machines, Apparatus, Electronics and Manufactured articles.
- Processes: Manufacturing methods, chemical processes, and unique techniques.
- Compositions of Matter: Chemical compounds, compositions, or formulations.
- Improvements or Modifications: Enhancements to existing inventions.
Patentability Requirements:
- Novelty: For an invention to be patentable, it must be new and not publicly disclosed.
- Inventive Step: The solution of the invention should offer enhancements that are not obvious to someone who’s an expert in that area.
- Industrial Applicability: The invention must have practical application and be capable of being made or used in an industry.
Now that you’ve got a good handle on the basics of patents, let’s explore the important role of a patent agent. Follow the link below to learn more about how they make a difference.