New Expected Industrial Property Law in UAE
The UAE National Federal council announced the discussion of a new Industrial property law during the session of 19 January 2021. The draft of the new expected Industrial Property law includes eight chapters, divided into 80 articles aiming to keep abreast of technology development, improvement of IP law worldwide and to encourage innovation in the country. The new expected law imposes heavy penalties against violators namely imprisonment and fines ranging between 100 Thousand and One Million Dirhams (USD 27 225.00 to USD 272,257.00) Further will be communicated as soon as affected.
For any further assistance and/or information in respect of the above, please contact Baianat-IP UAE office at uae@baianat-ip.com
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