UAE’s Minister of Economy Unveils Visionary IP System for a Knowledge and Innovation Economy

UAE’s Minister of Economy Unveils Visionary IP System for a Knowledge and Innovation Economy

The Ministry of Economy unveiled its innovative intellectual property system, comprising 11 integrated initiatives spanning various fields and applications. The move aims for the innovation and creativity landscape within the UAE, boosting an environment conducive to inventors and creators for transforming entrepreneurial ideas into innovative business opportunities.

The launch event, graced by H.E. Abdulla bin Touq Al Marri, Minister of Economy, and H.E. Abdullah Ahmed Al Saleh, Undersecretary of the Ministry, brought together representatives from federal and local government entities, academic institutions, and research organisations. Collaborators included the Ministry of Culture, Ministry of Climate Change and Environment, Ministry of Industry and Advanced Technology, and others.

Minister of Economy, H.E. Bin Touq , emphasised the UAE's commitment to becoming a knowledge and innovation-driven economy, aligning with the "We the UAE 2031" vision. The IP system, powered by AI technology, is designed to provide robust protection to intellectual property rights, reduce violations, resolve disputes, and enhance services for patent registration.

The newly introduced IP system comprises 11 initiatives, showcasing the government's dedication to nurturing an innovation ecosystem. Notable initiatives include:

Patent Hive Initiative: Aiming for 6,000 new patent registrations by 2026, this initiative promotes participation in patent applications, working with research and academic institutions.

The Ministry reported