The Curious Case Of Compliance & IP Protection
As technologies have come closer to people, the Intellectual Property disputes have significantly increased across the world. The Asian continent is up to pace in that regard. Asia remained the dominant source of international patent applications over the past few years, accounting for 54.7 percent of the 2022 total, up from 40.3 percent in 2012. Malaysia has demonstrated a commendable growth trajectory. The year 2021 marked a significant milestone, with the country registering 883 patent applications, a notable increase from the 322 applications recorded in 2002. This upward trend reflects an average annual growth rate of 6.70 percent, underscoring Malaysia's burgeoning commitment to fostering a culture of research and development.
Given the prevailing cutthroat competition across markets, scandals, financial crises, and the globalization of anything and everything, it could create stumbling blocks in your organization’s patent journey, not to mention the dynamic and swiftly evolving compliance landscape. Compliance is increasingly becoming a facet of continuing success stories. Ethical guidance and long-term risk management are paramount, whether a startup or an established organization.
Hence, the role of a Chief Legal Officer has become increasingly important and complex while undergoing a lot of transformation over the past few years, especially in Asia. In truth, organizations worldwide now need CLOs to manage the IP & compliance department similarly to operational units and, in turn, directly contribute to organizational growth. In this issue, we shed light on a few CLOs who lead by example. We dedicate this special issue to the CLOs in Malaysia. Do let us know your thoughts.