Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region, announced that the Board of Directors of the DIFC Authority has approved the issuing of the Intellectual Property Regulations (IP Regulations), which will take effect on 5 July 2021.
The IP Regulations are issued under the Intellectual Property Law, DIFC Law No. 4 of 2019 (IP Law), and facilitates the administration and enforcement of the DIFC IP Law. The DIFC’s IP Law and Regulations enhance and augment the UAE’s existing intellectual property laws, by working with the federal regime but in line with the DIFC legal framework, common law principles and the certainty provided by binding legal precedent created by the DIFC Courts.
The IP Regulations provide further clarity on the powers and functions of the Commissioner of Intellectual Property (the Commissioner) and outline the process and requirements for, inter alia, filing intellectual property infringement complaints with the Commissioner, inspections and investigations carried out by the Commissioner in connection with violations of the IP Law, issuing of directions by the Commissioner, along with the particulars that must be contained in such directions. Additionally, the IP Regulations establish a Register of Experts from whose ranks the Commissioner may appoint experts to assist in the investigation of a complaint. The IP Regulations 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 in the country.
The new IP Regulations reflect the Centre’s continuing commitment to maintaining a transparent and robust legal and regulatory framework aligned with global best practice, as well as support the DIFC’s focus on fostering innovation by identifying and protecting intellectual property rights, which is of key importance to technology and start-up companies.
News Source: https://www.difc.ae/newsroom/news/difc-announces-enactment-intellectual-property-regulations/
