We use cookies and similar technologies that are necessary to operate the website. Additional cookies are used to perform analysis of website usage. By continuing to use our website, you consent to our use of cookies. For more information, please read our Cookies Policy.

Closing this modal default settings will be saved.

Major Surge in Trademark Registrations in UAE Reflects Growing Investor Confidence

Experts and analysts view listing increase as a positive indicator for UAE's business community

Owner's Profile

Staff Writer, TLR

Published on April 23, 2024, 12:31:09

539

uae, trademark registeration in uae, investors in uae

The UAE has experienced a notable surge in trademark registrations during the first quarter of 2024, showing a 64 per cent increase compared to the same period last year.
This rise underscores the growing confidence among investors in the nation's innovative entrepreneurial landscape.

In Q1 of 2024, the UAE recorded a total of 4,610 trademark registrations, up from 2,813 in the corresponding period of 2023, according to official data published by the Ministry of Economy.

Trademark experts and analysts view this surge as a positive indicator for the UAE's business community, reflecting increasing investor confidence in the nation's economy and business climate.

Sunil Ambalavelil, partner and legal consultant at NYK Law Firm, emphasised that trademark registration is crucial for safeguarding intellectual property rights, enabling businesses to differentiate their products and services in the market.

"By registering a trademark, businesses can prevent others from using their brand name, logo, or slogan, establishing a unique identity in the marketplace," Ambalavelil explained.

"This not only fosters brand recognition and customer loyalty but also enhances the value of their offerings."

He further stated: "The uptick in trademark registrations in the UAE demonstrates growing awareness among businesses about the importance of protecting their intellectual property rights. It also signifies confidence in the country's legal framework and enforcement mechanisms, which are critical for safeguarding trademarks and other intellectual property assets."

Shulka Chavan, legal associate at Kaden Boriss, highlighted the UAE's efforts to strengthen intellectual property laws and regulations in recent years. "This increase in trademark registrations is a testament to the effectiveness of these measures," said Chavan.

"It signals growth driven by innovation and is likely to boost business confidence in the UAE, promoting increased competition, innovation, and foreign investment, thereby driving overall growth and prosperity."

During March alone, 2,018 new brands were recorded in the UAE, spanning various sectors such as smart technology, transportation, food and beverage, pharmaceuticals, medical devices, finance and real estate. The trend continued with 2,592 trademarks registered in January and February, demonstrating sustained growth in trademark registrations.

In 2023, there was a substantial increase in trademark registration applications, rising by 9.6 per cent compared to 2022. Additionally, there was a 29.5 per cent increase in the registration of intellectual works.

The Ministry of Economy received 3,415 patent applications in 2023, marking a 19.5 per cent increase from 2022. The total number of registered patents reached 5,108 in 2023, up by 13.7 per cent.

Earlier this year, the Ministry of Economy introduced a new intellectual property (IP) system comprising 11 integrated initiatives aimed at fostering innovation and creativity. Abdulla bin Touq Al Marri, Minister of Economy, emphasised the significance of intellectual property for economic growth and highlighted the UAE's commitment to becoming a global hub for innovation.

According to legal experts, the UAE's adherence to international treaties and agreements, such as the Paris Convention for the Protection of Industrial Property and the Agreement on Trade-Related Aspects of Intellectual Property Rights, strengthens its trademark registration system and enhances international cooperation in trademark enforcement.

They noted that the UAE has established effective mechanisms to protect trademark rights and combat infringement, offering civil remedies like damages, injunctions, and seizure of infringing goods, as well as criminal penalties for trademark counterfeiting and piracy.

For any enquiries or information, contact ask@tlr.ae or call us on +971 52 644 3004Follow The Law Reporters on WhatsApp Channels.

Comments