DIFC unveils new law on Intellectual Property

A new intellectual property law for the Dubai International Financial Centre will come in effect from today. Key aspects of the law enacted by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, in his capacity as the Ruler of Dubai, includes recognition of the UAE registered trademarks, patents, utility certificates, industrial designs and drawings, DIFC, the world's eighth ranked international financial centre announced on Wednesday.
The DIFC Intellectual Property Law, or Law No. 4 of 2019, complements the DIFC's commitment to international best practice, with the new law aiming to govern the enforcement of intellectual property rights in the Centre, which will enable DIFC entities to protect their intellectual property rights within the DIFC and create a safe environment for creativity and innovation within the Centre, the DIFC said.
The law covers patents, utility certificates, industrial designs and drawings, copyright, trademarks, trade names and trade secrets in line with international treaties and best practices. "One of our top priorities in DIFC is to ensure our stakeholders and businesses have the appropriate regulatory environment to operate in or from the Centre," said Essa Kazim, Governor of DIFC.
"In line with our positioning as a regional hub for innovation and creativity, the new enacted law will re-affirm our commitment to continuously enhancing our legislative infrastructure in order to give leading global institutions, start-ups and individuals the certainty and freedom they need to innovate with confidence and develop creative solutions within the Middle East, Africa and South Asia region through Dubai," said the governor.
Other key aspects of the law include the rights afforded to each type of intellectual property rights and the limitations to such protection and determining ownership of patent and copyright in employment relations.
As per the new law, the office of the commissioner of intellectual property who is responsible for the administering the proposed law will be created. The law also seeks to resolve disputes and impose fines; sanctions and remedies for intellectual property infringement; and jurisdiction of the commissioner of intellectual property and the DIFC Court in infringement cases.
The DIFC statement said the new law was subject to substantial research and global benchmarking, as well as thorough public consultation, which helped shape the law to ensure that the DIFC remains the most sophisticated and business-friendly common law jurisdiction in the region.
- issacjohn@khaleejtimes.com

Issac John

issacjohn@khaleejtimes.com