Budget 2013 Goodies for Innovation based Industries

PM Najib has announced the following goodies for innovation based industries:
1. Frawework to enable Intellectual Property to be used as Collateral for Financing
An IP Financing Fund scheme amounting RM200mil is offered through Malaysian Debt Ventures Bhd. The government will provide a 2% interest rate subsidy and guarantee of 50% through Credit Guarantee Corp Malaysia Bhd
2. Creation of IP Valuation Training and Market Platform
Allocation of RM19million through MyIPO to train local IP valuers and create platform for market of intellectual property
3. Emphasis of high impact research in Research Universities
Allocation of RM600million to five research universities
4. Tax incentive for commercialization of non-resource based findings
The current tax incentive for commercialization of resource based findings is extended to commercialization of non-resource based findings. The tax incentives allow any company, which invest in a subsidiary company that commercialize R&D findings of local universities or research institution, to be given deduction based on total investment made in the subsidiary. A tax exemption of 100% for 10 years can also be enjoyed by the subsidiary company.
5. Angel Investors
A deduction equal to the amount of investment made by angel investors to be set off against his income
6. Green Technology Financing Scheme
An allocation of RM2bil for the development of green technology
7. Inclusive Innovation Development
Initiative to be taken by Ministry of Science, Agensi Inovasi Malaysia and non-governmental organizations to plan and implement knowledgeable, creative and innovative activities.

Impact of America Invents Act on PCT Applications

America Invents act will enter into force on 16 September 2012. PCT applications filed on or after 16 September 2012, will no longer have a requirement that inventors be named as applicants solely for the purposes of the U.S. designation. However, U.S. national law will still require that a U.S. inventor’s oath or declaration be submitted for national phase. To assist PCT applicants/agents in implementing the change of practice that will result from the America Invents Act, some frequently asked questions relating to the change have been published on the PCT website at:

http://www.wipo.int/pct/en/faqs/aia.html

WARNING: Requests for Payment of Fees

Did you receive any letter from an organization to pay fees for a particular service? WIPO has issued a warning notice on such letter:

It has come to the attention of the International Bureau that PCT applicants and agents are receiving invitations to pay fees that do not come from the International Bureau of WIPO and are unrelated to the processing of international applications under the PCT.  Whatever registration services might be offered in such invitations, they bear no connection to WIPO or to any of its official publications.
The invitations often identify a particular PCT application by its international publication number (eg: WO 02 xxxxxx), publication date, title of the invention, international application number, priority information and IPC symbols; examples of such invitations can be viewed here.

PCT applicants and agents should note that it is the International Bureau of WIPO alone which publishes all PCT applications promptly after the expiration of 18 months from the priority date (see PCT Article 21(2)(a)); there is no separate fee for such international publication, and the legal effects of international publication are set out in PCT Article 29.
In case of doubt in relation to such an invitation, please contact the International Bureau by telephone +41 22 338 83 38 or facsimile +41 22 338 83 39 or contact your IP agent.