80 YINSON HOLDINGS BERHAD STRATEGY & OUTLOOK LEGAL & INSURANCE REVIEW Intellectual Property Initiative At Yinson, we recognise the importance of Intellectual Property (“IP”) as a valuable company asset. In this connection, we are planning to undertake an IP Initiative across the Group. This initiative will have a positive impact on the Group, by turning intangible assets into tangible results. Key objectives include the increase of Yinson’s valuation, protection of Yinson’s reputation and goodwill, possible new revenue stream through licensing, enhancement of Yinson’s reputation as an innovative company, obtaining competitive intelligence on key competitors via IP data, and deterrence of competitors from infringing any IP rights contained within Yinson’s products and services. Under the IP Initiative, we plan to conduct an awareness programme involving all offices on the importance of IP as well as an identification and inventory of relevant IP assets. Key elements of the IP Initiative shall comprise: 1) Identification of IP 2) Securing of IP 3) Registration of IP 4) Protection of IP 5) Commercialisation of IP In FYE 2022 we successfully registered the Group’s first trademark, ‘Hydroglyder’, to Yinson GreenTech – the first of various trademark names to be registered to the brand to reflect the division’s various business sectors. Business Review: Green Technologies, pg 111 Strategic restructuring of legal department To better serve the Group in light of our rapid expansion into new businesses and geographical territories, our Legal Department has been expanded and restructured in accordance to key areas of operation. The expansion and restructuring are part of the Department’s evolution towards becoming an independent cost centre, with the objective of providing complete legal services to the Group’s business units. We have worked on bringing in the requisite skillsets into the team, with the aim of relying even less on external support. In this connection, the position of the Head of Legal was created, and that designation has been further demarcated into three regions, namely Head of Legal of the Americas, Head of Legal of EMEA (Europe, Middle East & Africa) and Head of Legal of Asia-Pacific. These three new designations are complemented by the Head of Legal (Corporate Finance). Improving stakeholder awareness & engagement In September 2020, the Yinson’s Legal Department initiated a series of webinar sessions for Yinsonites and contract personnel on topics that relate to legal issues faced every day in our business. Called Legal Awareness Webinars, or L.A.W, the webinars present legal concepts in everyday language, allowing Yinsonites to be better equipped with new knowledge to help them understand and appreciate the business better, especially how Yinson aims to manage risks through application of robust legal practices. The webinars are held monthly, with each member of the Legal Department taking turns to present. • September 2020 – Force Majeure: The English Treatment Of A French Superior Force • October 2020 – Overview Of Islamic Finance, An Alternative To Conventional Financing • November 2020 – Variation Orders: Change Is Inevitable, A Successful Outcome Is Optional • December 2020 – Understanding Termination Issues In A Contract • January 2021 – Intellectual Property Management In Yinson • February 2021 – Marriage In Business: Joint Venture • March 2021 – An Overview Of Arbitration In Various Jurisdictions • April 2021 – Delay And Liquidated Damages In Contracts • May 2021 – An Overview of Typical Insurances placed for Yinson’s Offshore Projects. • June 2021 – Case Studies And Overview On Anti-Bribery Management System • July 2021 – Will Drafting • August 2021 – Shut Up! Legally Speaking – Libel And Slander In The Internet Age • September 2021 – EPC[I] [C] v L&O: What’s Really The Difference Contractually? • October 2021 – Introduction To Secured Lending • November 2021 – Cybersecurity • December 2021 – Expert Witness Testimony • February 2022 – Employment Rights 101 • March 2022 – Look Ma, No Hands! Autonomous Driving And Its Legal Challenges • April 2022 – The Personal Information Protection Law of China Monthly L.A.W. webinars conducted for all employees 19 WEBINARS CONDUCTED | 1,357 ATTENDANCE OVERALL | 98% POSITIVE FEEDBACK FROM ATTENDEES LEGAL AWARENESS HIGHLIGHT
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