Connect with us

News

UAE Introduces Program To Bolster Intellectual Property

The launch of the IP Ecosystem program will protect creators, boost growth, and attract foreign investment amidst a surge in trademark filings.

Published

11 months ago

on

uae introduces program to bolster intellectual property
UAE Ministry Of Economy

The UAE’s Ministry of Economy has unveiled a program geared towards enhancing the protection of intellectual property, amidst a notable uptick in trademark filings within the UAE.

The IP Ecosystem initiative is poised not only to assist inventors and innovators in safeguarding their creations but also to serve as a driver of growth, attracting increased foreign investment, stated Minister of the Economy Abdulla bin Touq on Wednesday.

“The UAE recognizes the importance of putting in place an integrated legislative framework that promotes and encourages creativity, innovation and comprehensive intellectual property protection for talented individuals, skilled professionals, creators, innovators and entrepreneurs in the country,” explained Minister of the Economy Abdulla bin Touq.

The program is also aligned with the UAE’s vision of becoming a global hub for the new economy and the most prosperous society worldwide by 2031. The IP Ecosystem program is underpinned by 11 initiatives encompassing pivotal economic and creative sectors of the UAE, including bolstered backing for new technologies alongside student outreach endeavors.

Upgrading the protections afforded under IP laws and facilitating growth for research and development-centric projects are core tenets of the new initiative. Additionally, the UAE government aims to elevate ministry services, particularly in artificial intelligence, positioning them as nationally marketable products on the international stage.

Also Read: Declining Gaming Revenues Bring Middle East Opportunities

With the UAE prioritizing the advancement of creators and innovators as part of its new economy agenda, there has been a substantial surge in trademark applications during 2023. Ministry of Economy data revealed a nearly 10% year-on-year increase in trademark application filings.

Moreover, registered trademarks experienced an uptick of nearly 3%, while registrations for intellectual works soared by a massive 29.5%. Patent applications also witnessed a robust annual surge of 19.5%, totaling 3,415 last year.

The UAE’s legislative and policy strides in recent years have led to substantial expansion in the new economy sectors, with an increasing number of individuals and companies capitalizing on the nation’s growth potential. As of November, the ministry reported that the tally of business licenses tied to creative activities registered in the country had reached 932,000 by the close of the first half of 2023.

Related Topics:
Advertisement

📢 Get Exclusive Monthly Articles, Updates & Tech Tips Right In Your Inbox!

JOIN 17K+ SUBSCRIBERS

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

UAE Prepares To Launch Two Satellites: Thuraya-2 And MBZ-SAT

HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum chaired the first meeting of the Supreme Space Council yesterday.

Published

5 days ago

on

December 17, 2024

By

uae prepares to launch two satellites thuraya-2 and mbz-sat

HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Deputy Prime Minister of the UAE, chaired the first meeting of the Supreme Space Council in Dubai on December 16, 2024. The session highlighted the UAE’s ambitious space plans and took stock of the sector’s economic progress.

The council emphasized the growing role of private companies in advancing space technologies, noting that their contributions are now equal to that of the public sector. Members also praised initiatives like the Space Economic Zones Programme, which are designed to fuel innovation and investment in the space industry.

Discussing the UAE’s space journey, HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum remarked, “The national space sector continues to grow and advance, and we take immense pride in the remarkable achievements we have accomplished over the years”.

Sheikh Hamdan also received updates on two upcoming satellite projects: Thuraya-2 and MBZ-SAT. Thuraya-2, developed by Space42, is slated for launch this December. Meanwhile, the MBZ-SAT, created by the Mohammed Bin Rashid Space Centre (MBRSC), will soon follow. MBRSC, a major driver of the UAE National Space Programme, continues to lead the nation’s space-related developments.

Space42 took the opportunity to showcase its advancements, including ongoing collaborations between public and private entities. The company also outlined strategies to promote innovation, boost revenue streams, and create new opportunities for growth in the sector.

Also Read: IBM Opens New Doha Office To Support Qatar’s Digital Growth

The UAE’s current projects build on a growing legacy of space exploration. Back in 2020, the nation made headlines with its Mars mission, successfully sending a probe into the planet’s orbit in 2021. This mission, which is now in its second phase as of June 2024, has been collecting critical data to develop a comprehensive diurnal image of Mars.

The UAE also ventured into lunar exploration with an unmanned mission aimed at studying untouched regions of the Moon’s surface. While the probe ultimately crashed during its landing attempt after communication was lost seconds before touchdown, the effort represented a significant step in the country’s exploration ambitions.

Continue Reading

#Trending