The Ministry of Economy has recently signed a strategic new Memorandum of Understanding (MoU) with the Korean Intellectual Property Office (KIPO) to further promote and protect intellectual property in the UAE. The MoU was signed by H.E. Engineer Mohammed Ahmed Bin Abdul Aziz Al Shehhi, Undersecretary for Economic Affairs and Choi Donggyou, Commissioner, KIPO on the sidelines of the 56th series of Meetings of the World Intellectual Property Organization (WIPO), which opened last October 3 and will run until October 11, 2016 at the WIPO headquarters in Geneva, Switzerland.

H.E. Al Shehhi, who is heading the participating UAE delegation, shared that the MoU follows in the direction of previously signed arrangements between the UAE and KIPO-- all concentrated on the development of a system that can promote and secure intellectual property rights in the nation. The move is expected to encourage more creativity and innovation amongst inventors and developers while likewise offering an appealing economic and financial investment environment in compliance with the set objectives and goals of UAE Vision 2021.

Under the terms of the recently signed arrangement, both nations will be working closely to assist develop and operate the International Centre of Patent Registration (ICPR) at the UAE Ministry of Economy, a new international center that will oversee the registration of patents in the UAE. The new center will house a worldwide body of patent experts that will evaluate and assess patents based on a special intellectual property system.

In addition, the center is set to be designated as an International Searching Authority and International Preliminary Examining Authority under the Patent Cooperation Treaty of the WIPO (PCT ISA/IPEA). In line with this, both UAE and South Korea will be entrusted with exchanging consultative duties with the WIPO in the course of searching and examining newer patents for registration.

The center will develop training programs for professionals in the field of intellectual home to additional establish their skills and abilities. The center is also anticipated to establish key research study and studies covering problems and topics concerning intellectual property.