Dubai, UAE: Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region has announced new Intellectual Property Regulations (IP Regulations) with effect from 5 July 2021.
The introduction of the regulations reflects the Centre’s continuing commitment to maintaining a transparent and robust legal and regulatory framework aligned with global best practice. It also supports DIFC’s focus on fostering innovation by identifying and protecting intellectual property rights, which is of key importance to technology and start-up companies.
IP Regulations have been approved by the DIFC Authority Board of Directors and issued under the Intellectual Property Law, DIFC Law No. 4 of 2019 (IP Law), facilitating the administration and enforcement of the DIFC IP Law. DIFC’s IP Law and Regulations enhance and augment the UAE’s existing intellectual property laws by working with the federal regime and DIFC legal framework, common law principles and the certainty provided by binding legal precedent created by the DIFC Courts.
Regulations provide further clarity on the powers and functions of the Commissioner of Intellectual Property (the Commissioner). They also outline the process and requirements for filing intellectual property infringement complaints, inspections and investigations in connection with violations of the IP Law. Additionally, the IP Regulations cover issuing of directions by the Commissioner, along with the particulars that must be contained in such directions.
The regulations establish a Register of Experts that the Commissioner may appoint to assist in the investigation of a complaint. They also enable the Commissioner to cooperate with relevant federal and local authorities in the UAE for the seamless protection of intellectual property rights across each of their respective jurisdictions.
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.
For further information, please visit our website: difc.ae, or follow us on Twitter @DIFC.