Intellectual property rights: Issues and challenges in Malaysian manufacturing firms

The purpose of this paper is to explore how manufacturing firms implement protection of Intellectual property rights (IPR).In general, works done in the manufacturing industry involves many applications of inventing or introducing new products to the market.The construct of this paper is based on comprehensive review of recent literatures on Intellectual property rights that focusing primarily on patent.Detailed discussions are as followed to give implications in policy making especially government or related authorities in promoting and enforcing intellectual property rights.Intellectual property rights policy especially regarding patents should be part of firm's business strategy.Implementing IPR will safeguard firm's new invention, innovation or processes in the long run.Intellectual property rights should be treated as new forms of investment.The patent and related intellectual property rights system will have to respond to the market changes. There is probability for the system to have its own weaknesses here and there.The major challenge for patent and other IP elements together with government policies is to ensure a national pay-off from scientific and technological development.In relation to the impact for the operation performance of the firm, patent system should be able to reduce the manufacturing cost per unit, increase product delivery, improve product/process flexibility and high quality products being produced.This paper provides the importance of applying intellectual property rights as firm's business strategy.Manufacturing firms has different goals in determining which business strategy in order to make them remain competitive in the challenging business atmosphere