Dubai, UAE: Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region, has issued a consultation paper proposing to issue Intellectual Property Regulations under the Intellectual Property Law No. 4 of 2019. The Proposed Regulations will facilitate the administration and enforcement of the DIFC IP Law and enhance the regulatory framework in DIFC.
The Proposed Regulations deal with the requirements concerning intellectual property infringement complaints to the DIFC Commissioner of Intellectual Property (IP), the inspections and investigations that the IP Commissioner may carry out in dealing with such complaints, and the requirements for issuing directions in respect thereof. The Proposed Regulations will establish a Register of Experts, which the IP Commissioner can refer to when investigating complaints, and also covers the ability of the IP Commissioner to cooperate with relevant federal and local authorities in the UAE from an enforcement perspective.
The consultation paper and legislative proposal can be accessed by visiting Consultation Papers | Dubai International Financial Centre (difc.ae)
The deadline for providing comments is 9 May 2021.
The Proposed Regulations reflect the Centre’s commitment to maintaining a transparent and robust legal and regulatory framework aligned with global best practice.
About Dubai International Financial Centre:
Dubai International Financial Centre (DIFC) is one of the world’s most advanced financial centres, and the leading financial hub for the Middle East, Africa and South Asia (MEASA), which comprises 72 countries with an approximate population of 3 billion and a nominal GDP of USD 7.7 trillion.
With a 16-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe and the Americas through Dubai.
DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of almost 27,000 professionals working across over 2,900 active registered companies – making up the largest and most diverse pool of industry talent in the region.
The Centre’s vision is to drive the future of finance. Today, it offers one of the region’s most comprehensive FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage start-ups.
Comprising a variety of world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels and public spaces, DIFC continues to be one of Dubai’s most sought-after business and lifestyle destinations.