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FINANCIAL NEWS
UAE posts 14% increase in registered patents in 2011
16 Feb 2012
(MENAFN) UAE’s Director of the Department of Intellectual Property in the Ministry of Economy, Khalfan Al Suwaidi, said that in 2011, the number of patents registered in the country reached 16,000, with a rise of 14 percent over 2010’s 14,000, reported Emirates 24/7.
Al Suwaidi added that foreigners registered 90 percent of these patents, whereas the rest was registered by Emaratis and residents of the UAE.
He also said that the ministry is preparing a new draft law for registration and protection of patents and the law would be forecasted to be applied during 2012.
It is worth noting that the registration of a patent can take between 3-4 years, and the inventor can take advantage from a registered patent for nearly 20 years.
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