Trademark-intensive businesses in Malaysia generated 30 per cent direct and 60 per cent indirect benefits to the economy, said International Trademark Association (INTA).
INTA chief representative of Asia-Pacific Seth Hays cited the latest study, conducted from 2012 to 2015, by Frontier Economics, highlighting trademark-intensive activities contribute technological innovation and international business growth.
When asked on the 30 per cent direct and 60 per cent indirect contributions to Malaysia’s economy, Hays explained when trademark-intensive activities are extensively promoted within the business community, government and consuming public, it results in immense cross sectoral economic growth.
"Trademark-intensive industries in Malaysia comprised 55 per cent of the country's share of exports, including manufacturing of computers, electronics and related equipment, which accounted for about 19 per cent of total manufacturing value-add,” he said.
Hays was speaking in a media briefing here today, after presenting ‘The Economic Contributions of Trademark-intensive Industries in Indonesia, Malaysia, the Philippines, Singapore and Thailand’ report.
Also present were Shook Lin & Bok deputy managing partner Michael Soo, MyIPO deputy director general Zulkarnain Muhammad and MyIPO assistant director general Azahar Abdul Razab.
"In terms of employment, output, and value-added, workers' share of workforce represented 24 per cent of total employment," Hays said.
Soo concurred and said trademark registration, brand development and enforcement of intellectual property protection will continue its significance as Malaysia embrace a knowledge-based digital economy.
Soo highlighted homegrown brands trademarks that are growing in brand value globally include Petronas, Maybank, CIMB, Malaysia Airlines, AirAsia, Sime Darby, Shangri-la, Genting Resorts and Maxis.
Emerging brands and trademarks, which are growing regionally, including Proton, Perodua, Mamee snacks and Vochelle chocolates. - Ooi Tee Ching, New Straits Times