The concept of intellectual property (IP) is often misunderstood as being just “an obscure legal concept that is of little value in everyday life,” lamented Domestic Trade and Consumer Affairs Minister Datuk Haji Mohd Shafie Apdal on Monday.

He said the importance of IP cannot be underestimated. “IP has become one of the biggest assets for the development of any nation’s economy.

“You only have to consider for a moment the value of English teaching materials and resources across the world to recognise the wealth-creating potential of knowledge and intellectual property,” he said.

The Government, he said, is already promoting the IP regime in the country and pointed out that there is still “much work to be done” if we are to continue the development and generation of local intellectual property.

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Posted by: David Oh on 27/4/2005 2:10:00 PM