Page 461 - MOE ENGLISH PR - MAY 2024

5/28/24, 2:39 PM PRESSR: UAE and United States sign MoU to strengthen collaboration and share knowledge in the field of intellectual property rig…
Intellectual property protection is a priority in the UAE’s economic

agenda. The country provides all enablers in support of fresh

entrepreneurial ideas and innovations, enabling them to establish

their businesses and grow them into profitable ventures in the UAE.

Entrepreneurs can also benefit from robust technological

infrastructure and a range of distinctive and inclusive residence

programs tailored for entrepreneurs, investors, and talented

individuals. Additionally, the UAE has enacted three comprehensive

laws that are specifically designed to regulate and protect

intellectual property rights. These are: the law on the regulation

and protection of industrial property rights, the law on trademarks,

and another one on copyright and neighbouring rights.

The Ministry of Economy had launched a new comprehensive

intellectual property system in February 2024. This system includes

11 initiatives that cover all intellectual property applications, in line

with the UAE's vision to transition into an innovative and knowledge-

based economic model, as well as promote research and

development.

The Ministry of Economy has made great strides in its efforts to

regulate the issuance of patents, improving its efficacy in attracting

talents and creators of ideas and fostering scientific research. As

part of its new system, the Ministry launched the Patent Hive

initiative, which aims to increase the rate of patent approvals and

stimulate innovation by offering support to inventors and talented

individuals seeking patents within the country. The initiative has set

a target of reaching 6,000 new patent registrations by 2026 through

https://www.tradingview.com/news/reuters.com,2024-05-23:newsml_Zaw30xsPC:0-pressr-uae-and-united-states-sign-mou-to-strengthen-collaboratio… 3/4