| Summary: | Innovation-based businesses and intellectual property rights (IPRs) increasingly play a remarkable role in driving economic growth of a country including Malaysia. The prevalence of counterfeit trade devalued the innovation and IPRs thus becoming an inevitable challenge for businesses particularly operating internationally. Alas, the existence of law in many countries is seen as less effective thus far in countering counterfeit trade. Malaysia is committed in addressing the issue. Taking into account the background and economic situation of the country, the evaluation of Islamic principle in this context should also be considered along with necessary improvements towards existing law from time to time. This study examines how the existing Malaysian IP law and Islamic principles deal with counterfeit trade. The study identified that both substantive laws and legal procedures and remedies are adequate in protecting IPRs. The study recommends that by nurturing the consumers with legal and Islamic knowledge may reduce their desire for buying counterfeit goods. This would increase in demand for genuine products and encourage producers to provide consumers with extended range of choices with cheaper price. Consequently, this will enhance the protection of IPRs regime thus sending a positive signal to those investors, inventors and IPRs-holders about an environment in Malaysia that is conducive for investment and inventive activities
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