19 ASIAN LEGAL BUSINESS – MAY 2024 WWW.LEGALBUSINESSONLINE.COM from all ten ASEAN member states. This unified digital resource will provide stakeholders with a seamless experience to conduct comprehensive patent, trademark, and design searches across ASEAN countries. This project sets out to help entrepreneurs, innovators and creators in ASEAN protect, commercialise and profit from their IP, transforming intangible assets into business opportunities in a thriving IP ecosystem. According to WIPO statistics from 2022, ASEAN saw remarkable IP application growth despite challenges from the COVID-19 pandemic. The region experienced notable increases in patent and industrial design applications, which rose 70 percent and 80 percent between 2012 and 2022, respectively. Additionally, trademark applications witnessed an impressive 110 percent growth. Based on these application trends, WIPO’s Global Innovation Index 2023 projected the market value of ASEAN’s top brands to exceed $250 billion, highlighting the substantial worth of intangible assets in the ASEAN region. The ASEAN IP Portal is an important digital tool designed to serve stakeholders in the IP community. It consolidates information on ASEAN IP systems, comparative IP-related data, and web links to ASEAN IP Offices into a single comprehensive online platform. In Malaysia, a notable recent trademark dispute involved Malaysia Airlines and Firefly obtaining an interim injunction against AirAsia Com Travel. This legal injunction temporarily prevented AirAsia from using Malaysia Airlines’ trademarks or selling its tickets through AirAsia’s SuperApp platform until the final resolution of the case. Simplifying trademark registration processes is a shared goal across ASEAN, with efforts focused on improving systems and streamlining procedures to support applications in different jurisdictions. The emphasis on simplification aims to enhance efficiency and facilitate a smoother experience for those seeking trademark protection. Some smaller ASEAN jurisdictions have been rolling out updated trademark laws. Thailand’s Department of Intellectual Property has implemented a fasttrack trademark examination process. The initiative aims to expedite reviews, ensuring applications are examined within six months of filing. Vietnam’s amended Law on Intellectual Property (Amended IP Law) came into force on Jan. 1, 2023, marking the third update to the country’s IP Law since its enactment in 2005. The year 2023 proved a milestone year for IP rights in the region as countries instituted substantial changes to regulations. The revision carried farreaching implications for inventors, creators and businesses operating in diverse sectors, ultimately reshaping each jurisdiction’s legal framework for IP. COVER STORY
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