For any economy, implementing an integrated legislative framework that promotes and encourages creativity, innovation, and comprehensive intellectual property (IP) protection is critical, as it protects ideas and concepts created by innovators and businesses and drives the expansion of the broader economic sectors.
Amid the surge of trademark registrations in the UAE, which rose nearly 10% YoY in 2023, and registrations for intellectual works soaring 29.5%, the Ministry of Economy has introduced a new program for IP.
The IP Ecosystem, anchored by 11 initiatives covering key economic and creative sectors, will aid innovators and creators in protecting their work while also attracting more foreign direct investment (FDI).
“Intellectual property plays a key role; it supports business development, fosters innovation, and enhances the overall market value of businesses. This initiative aims to boost innovation and creativity in the country, foster a competitive and conducive environment, and empower talented nationals to be able to leverage intellectual property applications effectively,” said Minister of Economy Abdulla bin Touq.
The program’s key pillars involve placing stronger IP laws and supporting the growth of research and development-based projects. In addition, it works to improve ministry services, specifically on artificial intelligence (AI), to promote them as national products that can be marketed internationally.
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