Malaysia Ranks 17th In US Chamber International IP Index

KUALA LUMPUR, Feb 11 (Bernama) -- Malaysia is ranked 17th out of 38 economies, with countries like Russia, Brazil, Indonesia and Thailand scoring lower in the US Chamber of Commerce's International Intellectual Property Index (IIPI) 2016 - 4th Edition. In a statement Wednesday, the US chamber said Malaysia's overall IIPI score has increased to 14.78 from 14.62 in the previous edition of the index. "However, when measured as a percentage, the score has stayed the same as last year at 49 per cent. "The accession by Malaysia to the Trans-Pacific Partnership (TPP) and the adoption of the Intellectual Property (IP) standards enshrined in the agreement would strengthen Malaysia’s national IP environment," it said. The US chamber said the agreed text of the TPP, released in November 2015, contains very clear requirements that contracting parties make available a minimum period of five years protection for submitted clinical data (with eight years for biologics) as part of a market registration application. "The adoption of these requirements will significantly strengthen the IP environment as it relates to the life sciences in Malaysia," it said. Meanwhile, Venezuela finished last out of the 38 economies studied while the United States was ranked first. "Overall, half of the 38 economies improved their total score from last year’s index, indicating increased recognition of the benefits of IP and a strong IP system," it said. The 38 economies benchmarked in the 2016 Index account for nearly 85 per cent of global Gross Domestic Product. Now in its fourth consecutive year, the IIPI remains a unique empirical assessment of the state of national IP environments in the world. --BERNAMA