The Trans-Pacific Partnership was concluded on Monday in USA by 12 pacific countries including Malaysia. The pact aims to create the world largest trade pact which signifies 40% of world trade. According to Wall Street Journal and New Zealand Herald, these are the effect of TPP:
Copyright Term for Copyright Work and Authors Right
Malaysia's existing term for copyright work of 50 years, in line with World Intellectual Property Organization's Berne Convention, need to be extended to 70 years. Currently, USA and many developed countries provide 70 years of copyright protection. Hence, copyright work involving movies and sound recording may enjoy 70 years or protection. Authors may enjoy authors right up to 70 years after the death of author.
Patent Term for Medicine
Existing term for patent of 20 years can be extended if the approval process is taking too long. Biologic drugs can enjoy 5 years extension according to New Zealand Herald. Wall Street Journal reported that biologic drugs can enjoy 8 years extension.
These provisions are based on preliminary report and do not take immediate effect. Each member states can comply with TPP after a certain time frame. Note that Malaysia which needs to accede to Madrid Protocol this year have not change its national trademark law.
Patents, trademarks and copyright are integral parts of intellectual property that form intangible assets in our daily life. IP matters from Malaysia and the world are shared here.
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