SEPTEMBER 2005 PRESS RELEASE: MINDVAULT SECURES RIGHTS FROM US BASED PETRASHWILLIAMSON TO DEPLOY BEST PRACTICE IP TOOLS IN MALAYSIA
- 13 Sep, 2005
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September 13, 2005, Kuala Lumpur: Mindvault Sdn Bhd, a leader in Intellectual Property (IP) and Intellectual Asset Management (IAM) solutions, today signed a memorandum of understanding (MoU) with US based PetrashWilliamson to license and deploy best practice Intellectual Property Asset Management (IPAM) tools in Malaysia. This is the first time that these tools will be made available in the South East Asian region.
The tools, LighthouseTM and CompassTM, which are targeted at growth companies, R&D Institutions and large corporations, are the first of their kind to be deployed in the South East Asian region. When deployed, these tools will enable organizations to better measure, manage, and leverage their Intellectual Assets.
LighthouseTM is a ready-made IPAM Intranet Portal. It is a database of IPAM knowledge, including process and methods; standard forms and agreements; training documents; contacts; Q&A’s; strategy and tactics; terms and definitions; and links to other IPAM resources.
CompassTM is a comprehensive library of IPAM resources. It consists of Microsoft Word, Excel, PowerPoint, and PDF documents. The organization of the documents is indexed and can be key word searched for easy retrieval and finding of pertinent information.
Speaking at the signing ceremony, Mindvault Chief Executive Officer Renuka Sena said: “Properly managed intellectual assets can yield ROI from IP for products and technologies developed by local companies. Intellectual Assets need to be managed systematically in order to reap long-term rewards. These tools go beyond knowledge management, document management and data mining which is often seen as a means to capture and manage corporate intellectual property.”
“Knowledge capture alone does not equate valuable intellectual assets. It is the ability to recognize the value each Intellectual Asset brings to the organization and the implementation of effective routes to commercialization that will yield economic value.” Renuka added.
“This partnership with PetrashWilliamson, a world leader in IPAM, signifies our commitment to partner with and assist local organizations to create a competitive edge for their business and pro-actively manage intellectual property to compete in the global market.”
PetrashWilliamson co-founder and partner Gordon Petrash said: “The Pacific Rim will be an even more important world player in technology and resulting Intellectual Property in the near future. PetrashWilliamson is looking forward to participating in this growth via its partnership with Mindvault. The combination of both firms brings a comprehensive set of experiences and competencies that will greatly help companies in Malaysia and other countries successfully reach this exciting future.”
Further commenting on the tools, PetrashWilliamson co-founder and partner Rob Williamson added: “The PW tools aid companies with proven best practices based on leading companies’ methods and techniques. It allows a company to jump start their IP management programme.”
Statistics between 2003 and 2004 from the Intellectual Property Corporation of Malaysia (MyIPO) indicate that the top 10 foreign countries that filed patents in Malaysia are the United States, Japan, Germany, the United Kingdom, Switzerland, France, the Netherlands, Taiwan, Sweden and Australia.
In 2003, there were approximately 1500 applications from US entities, approximately 900 from Japan, 500 from Germany and approximately 400 from the UK. The number of applications from Malaysian entities stood at only 500. However in 2004, filings by Malaysian entities rose to approximately 750 Patent applications which shows not only increased awareness of IP but also the determination of Malaysian companies to protect the economic value of their R&D efforts.
Renuka added: “This trend in Patent filings is encouraging and signals the coming of an era for local organizations. These tools from PetrashWilliamson will be customized by Mindvault to suit the Malaysian environment thereby helping to foster creativity and innovation to assist growing organizations achieve a competitive edge.”
PetrashWilliamson is an intellectual property asset management advisory that partners with clients in the development of their Intellectual Property Asset Management (IPAM) tactics, organization, and processes in support of their corporate and business strategies. These efforts are often global and comprehensive and emphasize direct measurable links between the key value drives of Shareholder Value and IAM. Strategy, organization, and process are best understood in the context of the PetrashWilliamson’s IPAM approach. PetrashWilliamson experiences include Fortune 100 companies, mid-size and start ups.
About Mindvault Sdn Bhd
Mindvault Sdn Bhd is a recognized leader in Intellectual Property and Intellectual Asset Management in Malaysia. The Company which was founded in 2000 comprises three main divisions namely Protection, Commercialisation and IAM. Mindvault’s goal is to empower their client’s to protect, grow and realize the value of their Intellectual Assets through innovative, solution-oriented and a systems-driven approach to identifying, managing and commercializing Intellectual Assets.