The UAE Ministry of Economy reported the most productive year for the intellectual property (IP) sector in 2020, with registered works posting a 70 percent increase year-on-year from 2019.
The ministry’s Department of Trademarks and Intellectual Works said 2,772 intellectual works were registered in 2020, up from 1,632 in 2019, which itself was an increase of 32 percent on 2018. A total of 24,317 have been registered since the registration process began.
There are several categories of intellectual works, including written work, drawing, music compilations, derivative works, photographs, lectures, engineering designs, software and smart applications.
In a statement, the Ministry of Economy said there was growing international confidence in the country’s IP protection framework, which will have a positive impact in attracting talent in specialised competencies.
“In addition, it will strengthen the country’s reputation as a preferred destination for investment, employment or tourism purposes,” the statement said.
“Besides, it will enhance the UAE’s contribution to global intellectual and literary landscape, thereby positioning it as an incubator for innovators and creators, and a strategic hub for projects based on technological and engineering innovation and creativity in authorship and design.”
(Writing by Imogen Lillywhite; editing by Cleofe Maceda)
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2021