Dubai International Financial Centre (DIFC) in Dubai. Image Credit: Gulf News Archives

Dubai: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has enacted Law No. 4 of 2019 — a new DIFC intellectual property law — Dubai International Financial Centre (DIFC) announced.

Key aspects of the new law, which will come into effect on Thursday, include recognition of UAE-registered trademarks, patents, utility certificates, industrial designs and drawings.

An office of the commissioner of intellectual property will be created, who will be responsible for administering the law.

The law will also cover the rights afforded to each type of intellectual property rights and the limitations to such protection, determine ownership of patent and copyright in employment relations, resolve disputes and impose fines, sanctions and remedies for intellectual property infringement; and jurisdiction of the commissioner of intellectual property and the DIFC Court in infringement cases.

According to a statement released on Wednesday, the law complements the DIFC’s commitment to international best practice, which will enable DIFC entities to protect their intellectual property rights within DIFC and create a safe environment for creativity and innovation within the centre.

Eisa Kazim, governor of DIFC, said: “One of our top priorities at DIFC is to ensure our stakeholders and businesses have the appropriate regulatory environment to operate in or from the centre. In line with our positioning as a regional hub for innovation and creativity, the law will reaffirm our commitment to continuously enhancing our legislative infrastructure in order to give leading global institutions, start-ups and individuals the certainty and freedom they need to innovate with confidence and develop creative solutions within the MEASA region, through Dubai.”