The head of a global trademark body this week called for stronger intellectual property laws to support economic development. A company's trademark is their "business identification card" without which they cannot market themselves and grow, said Etienne Sanz de Acedo, chief executive of the International Trademark Association (Inta). The National explains what IP is and why it must be protected.
What is intellectual property (IP)?
IP refers to ideas or solutions created by the mind, such as inventions, literary or artistic works, designs, symbols, names, logos and other images used in commerce. IP is protected by law through trademark, copyright and patents legislation, which enables people and companies to earn financial benefit and recognition for what they have created.
Why should we protect it?
If protections are not in place, IP can be stolen or copied by rivals - offences known as trademark infringement or counterfeiting. The creator gets no credit - or financial compensation - for their work.
More broadly, IP laws enable businesses to tell the world what they are doing, establish themselves and grow. This gives aspiring entrepreneurs the confidence that their idea will be protected and encourages more innovation, stimulating economies.
IP laws aim to strike a balance between the interests of innovators and the wider public. They cannot be so restrictive that they hamper fair competition, but they must be robust enough to fight counterfeiting and other fraud, which may harm the public's interest and safety.
How can GCC businesses register IP?
Patents and trademarks are usually registered with each country’s ministry of economy and valid for around 20 years. In addition, there is the GCC Patent Office, based in Saudi Arabia and governed by GCC Patent Law, which oversees patents across the six-country bloc. The UAE is a member of the global Patent Cooperation Treaty and the World Intellectual Property Organization.
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Read more:
Exclusive: Global trademark body wants GCC governments to strengthen laws
Science issue: How to get a patent in the UAE
EU fights back against fake goods from UAE
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What is the biggest challenge for IP practitioners?
The growth of digital channels is increasing the spread of counterfeit goods. Last month, Abu Dhabi Police said it confiscated Dh100 million worth of fake branded items in the year to date, including gold jewellery, medical equipment, watches, handbags and more. Together with global bodies such as Inta, governments are working to tackle counterfeiting on- and offline.
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
Museum of the Future in numbers
- 78 metres is the height of the museum
- 30,000 square metres is its total area
- 17,000 square metres is the length of the stainless steel facade
- 14 kilometres is the length of LED lights used on the facade
- 1,024 individual pieces make up the exterior
- 7 floors in all, with one for administrative offices
- 2,400 diagonally intersecting steel members frame the torus shape
- 100 species of trees and plants dot the gardens
- Dh145 is the price of a ticket
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
Electoral College Victory
Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate.
Popular Vote Tally
The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.
Company%20Profile
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Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
- The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
- US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
About Proto21
Date started: May 2018
Founder: Pir Arkam
Based: Dubai
Sector: Additive manufacturing (aka, 3D printing)
Staff: 18
Funding: Invested, supported and partnered by Joseph Group
The specs
Engine: 1.5-litre 4-cyl turbo
Power: 194hp at 5,600rpm
Torque: 275Nm from 2,000-4,000rpm
Transmission: 6-speed auto
Price: from Dh155,000
On sale: now
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
COMPANY%20PROFILE
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
