Intellectual property (IP) refers to creations of the mind – everything from works of art to inventions, computer programs to trademarks and other commercial signs.
Intellectual property (IP) is a category of property that includes intangible creations of the human intellect. There are many types of intellectual property, and some countries recognize more than others. The most well-known types are copyrights, patents, trademarks, and trade secrets.
Some types of intellectual property, such as patents, copyrights, industry knowledge, and trade secrets are considered capital assets and may be recorded on a company’s balance sheet. Because such assets are often intangible, their market value is often difficult to determine.
There are three methods of valuing intellectual property: cost-based, market–based, and income-based valuations. Cost-based valuation takes into consideration both how much it costs to create the asset historically and how much it would cost to recreate it given current rates.
Protecting their innovations either via patents, confidentiality, NDAs or trade secrets – from competitors and other parties. Establishing ownership of IP between the University, employees, students and company. Licensing the critical IP within the business to other industry partners.
The United Arab Emirates started enacting federal intellectual property laws in 1992 granting protection for patents, trademarks and copyrights. However, since the U.A.E became a member of the WTO in 1996, the established rules were being revised to comply with WTO (TRIPS) standards.
Therefore, In order to comply with TRIPS Agreement, new federal laws were promulgated to amend the federal laws of 1992. These are: Federal Law No. 17 of 2002 on the Protection of Patent and Industrial Designs, Federal Law No. 37 of 1992 on Trademarks as amended by Federal Law No. 19 of 2000 and Federal Law No. 8 of 2002, and Federal Law No. 7 of 2002 on Copyrights and Neighboring Rights.
The U.A.E joined the World Trade Organization in April 1996. The U.A.E is also a member of a number of international IP treaties and conventions including the Paris Convention, Berne Convention and Rome Convention. For more information about the UAE membership of IP treaties and conventions, please click here.
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