The Malaysian Government has rolled out its Intellectual Property Commercialisation Policy for Research & Development Projects funded by the Government in June 2009 (“IPCP”). To facilitate innovation with subsequent commercialisation in mind, the Government is providing funding to Universities and Public Research Institutions. The IPCP lays out who shall own the resulting IP – the Government, the University, (or PRI), a third party joint research partner or the inventors?
To encourage inventive activities, the funds received by an Institution can be used to pay the inventor(s) as follows:
- Upon disclosure of the invention RM 500.00
- Upon filing a patent RM 5,000.00
- Upon grant of patent RM10,000.00
To take the invention to the market place, further wealth sharing incentives are given. Upon the successful commercialisation of the R&D Results, the net revenues (gross revenue less reasonable expenses) can be disbursed as follows:
|Next RM250,001.00 to|
|Next RM1,000,001.00 to|
|Next RM2,500,001.00 to|
|RM5,000,001.00 and above|
*The Institution(s) which receive the Government fund
The IPCP is a bold initiative implemented by the Government to encourage innovation and thereafter to commercialise the innovation.
The Policy also envisages that the Government R&D Institutions will collaborate with the industry – another bold move to encourage University & PRI research collaborations with private sector industries.