The UAE has achieved remarkable results in proliferating the role of innovation and promoting intellectual property while encouraging innovators and inventors.

 

This came following the issuance of a federal law on the regulation and protection of industrial property rights in line with the Cabinet Resolution No (6) of 2022.

 

Terming issuance of the new Executive Regulation as a vital development, Dr. Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and SMEs, said the new executive regulation complements the legislative system of IP Rights and patents in the country by means of developing transparent measures of patent applications, speeding up the granting of these patents, and increasing their numbers in the upcoming stage.

 

"The regulation assists in providing a comprehensive legislative environment that encourages innovation and patent applications in the UAE. It will further project the UAE as a top destination for innovators in various fields - including technology, new economy, research, and development," he noted.

 

"Moreover, it will promote its position as a competitive and attractive environment for fundamental investments, hence boosting the pillars of the new economic module based on knowledge and innovation. It will also promote the UAE’s leadership in global competitive indexes, such as the Global Innovation Index (GII), the Global Entrepreneurship Index, and Global Competitiveness Index," he stated.

 

The regulation further lays the legal foundation for companies and individuals to bring forward their latest ideas and innovations, he added. 

 

Al Falasi said through this regulation, various procedures, conditions, requirements, and disciplines regarding industrial property applications have been clarified. 

 

It further illustrates various roles and stages through which the application goes, starting from the stage of application to the registering of the industrial property right, along with its consequent rights, privileges, and objections.

 

This comes in line with the best international practices in the field, especially those relating to patents, industrial projects, Utility Certificates, integrated circuits, and the protection of undisclosed information.

 

According to him, the Executive Regulation additionally considers key provisions stipulated in international agreements relating to industrial property rights, guaranteeing the speed, flexibility, and effectiveness of the inspection and registration of industrial property applications, and providing protection for owners of inventions.

 

It further offers extra flexibility and concessions for patents and industrial property for entrepreneurship, SMEs, startups, academic institutions, as well as facilities and companies - including departments for research, development, and innovation, and international companies. 

 

All of which are set to effectively benefit from the industrial property services offered by the Ministry of Economy by registering patents for its activities.-TradeArabia News Service