Malaysia: IP Bank To Store All Halal-related Intellectual Properties

KUALA LUMPUR, April 5 (Bernama) — The world’s first-of-its-kind Halal Intellectual Property (IP) Bank initiated by the Halal Industry Development Corp (HDC) has been formed to store all registered and licensed halal intellectual properties and ideas.

IP Bank was the key innovative outcome at the two-day World Halal Research Summit 2012 which ended today. International Trade and Industry Minister Datuk Seri Mustapa Mohamed said these intellectual properties referred to innovations and innovative ideas that have commercialisation potential and have been transformed into halal prototypes for global halal markets.

“HDC will manage all innovations retained with the IP Bank as this is the platform towards consolidating prototypes that are ready for commercialisation,” he told reporters after the closing ceremony today.

In support of innovations, HDC also organised a WHR Innovation Exhibition in collaboration with Agensi Inovasi Malaysia for purposes of showcasing the product prototypes for the halal industry at the summit.

The exhibition which focussed on 37 product prototypes, identified for commercialisation and ready to be pitched to the business, investors and entrepreneurial sectors, will be reposited in the IP Bank and can be viewed at the HDC web portals.