"The move will offer trademark protection for businesses and help them to expand their products and services locally and internationally through a single application,” he said.
“The international registration system is administered by the International Bureau (IB) of the World Intellectual Property Organization (WIPO) and will make it easy for their business to go abroad,” he told reporters after officiating the Seminar on ‘Protecting Your Trademarks and Inventions Overseas: WIPO Services and Initiatives For Malaysian Business’ here, today.
Chong said there were big challenges to get the IP protection across the world and by joining the Madrid Protocol, Malaysian businesses would get protection from over 150 member countries.
Thus, he said, the ministry was in the process of repealing the current Trade Marks Act 1976 and introduce a new Trade Marks Act which is expected to be tabled in Parliament soon to allow Malaysia to accede to the protocol.
So far in 2018, there have been 32,481 applications from trademark owners from various industries while 24,020 registration had been made until September involving local and international businesses.