Benefits & Importance of Patent Registration in UAE?
With accelerated technological advancement happening every day, intellectual property protection is becoming a more complex process across the globe. As the business expansion in countries like UAE has paved way to more infringements happening across IP assets of companies, government has started realizing the need to protect IP Rights of individuals and businesses at any cost. This has also led to an increase in the number of trademarks, copyrights and patents registration in UAE.
The UAE has always acknowledged the importance of effective intellectual property protection to ensure business security. The Ministry of Economy is the body responsible for the implementation and regulation of such IP Rights and the registration of various forms of intellectual property.
This article will discuss the various aspects of patent registration including its benefits, procedures and challenges in securing your IP assets in accordance with intellectual property laws in UAE.
What is a Patent?
A patent is an exclusive right or authority entrusted to the inventor of a new product or socially beneficial idea by the government concerned to manufacture, sell or use his invention in any productive manner within the country during a certain period from the date of filing. It also provides protection against infringement on your intellectual property assets.
Process of Patent registration in UAE
According to UAE patent law, a patent is granted for any new invention or innovative idea that has a scientific basis and is industrially applicable in various field like agriculture, fisheries, handicrafts and services. International Centre for Patent Registration (ICPR) under Ministry of Economy is the competent authority to register patents in the UAE. The most important steps in the registration of a patent in UAE include the following.
- Fill and submit the application form and pay the specified fees
- The accepted application is sent for examination and may take up to 2 years.
- The patent is then tested for the required standards and if found lacking, additional information and documents may be asked for.
- If the application is approved, then the Ministry of Economy will publish the application along with the required information in UAE Official Gazette for hearing objections and comments.
- After considering the objections and comments, the final approval on the patent is made.
Benefits of Patent Registration
The World Intellectual Property Organization identifies the following benefits for businesses in securing inventions with patent registration.
Total Liberty – Patent guarantees the owner complete freedom to use, modify or sell the licensed product within the country for a period of 20 years from the date of filing.
Improved security – The patent holder has the right to prevent others from using, manufacturing, retailing, importing or selling his invention or product without proper authorization.
Enhanced product value – The exclusive rights offered by the patent adds to the market value of the product and allows your business an upper hand among the competitors.
Greater ROI – Patent allows the owner to market and commercialize the product on a higher scale, thus ensuring higher return on investment.
Freedom to license – Patent registration not only gives the owner rights to market the product, but also entrusts him the rights to license the patent to another person or enterprise and earn profit.
Added Trust – Patent portfolios will be counted as a proof of high level of technical expertise within your business domain and helps to add trust of the customers.
For a business enterprise, it is highly essential to secure their innovations with patent registration. It not only guarantees complete protection from infringements and claims, but gives your brand an upper hand over the competitors in the market. At Axiom Mark, our team of IP Professionals have a vast experience in managing IP portfolios of biggest companies in the world. We help you to understand and overcome the various challenges of patent registration in UAE with minimum cost and effort.