In December 2021, the Malaysian House of Representatives passed the Patent Amendment Bill, which allowed the country to join the Budapest Treaty. Under the agreement, biotechnology innovators seeking patent protection can deposit micro-organisms with one of the designated International Depositary Authorities. The bill introduces additional fees for applications with more...
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In December 2021, the Malaysian House of Representatives passed the Patent Amendment Bill, which allowed the country to join the Budapest Treaty. Under the agreement, biotechnology innovators seeking patent protection can deposit micro-organisms with one of the designated International Depositary Authorities. The bill introduces additional fees for applications with more than 10 claims. In the Global Innovation Index 2021, Malaysia ranks 36th out of 132 countries, having dropped two spots. Further, it is the third most innovative among 34 upper-middle income economies, having dropped one place. The local patent scene is rebounding gradually from the impact of covid-19, with the established players noticing a higher number of patent litigations. While the Intellectual Property Corporation of Malaysia (MyIPO) has noted an uptick in foreign patent applications compared to 2020, local filings are taking longer to return to pre-pandemic standards.
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