STRONG and vibrant intellectual property (IP) protection can significantly contribute to companies’ innovation and economic growth in Penang, says Chief Minister Chow Kon Yeow.
He noted that such an ecosystem can attract potential investors and boost their confidence in the state.
“These investments are crucial for Penang’s goal of undertaking more ‘front-end’ activities such as research and development (R&D) and design and development (D&D).
“Today, Penang is home to numerous local tech start-ups, particularly in the front-end activities of the integrated circuit (IC) value chain.
“Encouraging these startups to adopt IP protection will not only strengthen Penang’s existing industrial cluster but also attract skilled local labour back to the state.
“I believe that IP protection will safeguard innovations, inventions, and brand identity while facilitating the creation of ‘unicorn companies’ in Penang,” Chow said during the Chung Chambers 10th anniversary dinner at G Hotel.
Chow praised Chung Chambers for its growth and resilience, highlighting its stellar reputation.
“Since 2020, my interactions with Chung Chambers have been positive, especially since I first met Prof Patricia Chung during the ‘Malaysia Most Impactful Young Entrepreneur Award’ ceremony.
“Today, Chung Chambers has emerged as one of the leading law firms specialising in IP and Corporate Legal Advisory in Penang,” he added.
Chow stressed the importance of protecting local startups’ and homegrown companies’ innovations through IP rights.
Chung Chambers founder and managing partner, Prof Patricia Chung, expressed her gratitude for the support received over the past decade.
“We are deeply grateful to our clients, partners, and the community for their unwavering support and trust,” she said.
Chung also thanked Chow for his presence and the trust he has placed in the Chambers.
Also in attendance were Chow’s wife Tan Lean Kee, state Housing and Environment Committee chairman Datuk Seri Sundarajoo Somu, Sungai Puyu assemblyman Phee Syn Tze, Penang Care Society adviser Datuk Seri Phee Boon Poh, 88 Captains chairman Datuk Seri Dr Ooi Eng Hock, Malaysia Semiconductor Industry Association president Datuk Seri Wong Siew Hai, Malaysia Association of Sustainable Supply Chain and Innovation president Prof Datin Lorela Chia, and Chung Chambers Partner and Litigation head Jane Ng.
Story by Edmund Lee
Pix by Muhamad Amir Irsyad Omar