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UAE Ministry of Economy signs MoU with Seoul-based Kipo

Seoul: The UAE Ministry of Economy (MoE) has signed a memorandum of understanding (MoU) with the Seoul-based Korean Intellectual Property Office (KIPO) seeking to strengthen cooperation in protecting intellectual property (IP).

The MoU was signed between Mohammad Ahmad Bin Abdul Aziz Al Shehi, Undersecretary, Ministry of Economy, and Kim Young-Min, Commissioner — Kipo, during an official meeting hosted at the Kipo headquarters in Seoul.

The agreement complements an earlier MoU signed by the MoE and Kipo in 2010. The latest agreement mandates the MOE and Kipo to collaborate further in developing intellectual property systems in the UAE and commit to substantively examining the patent applications that have been submitted from within the UAE.

Under the terms of the agreement, a technical team from Kipo will visit the UAE to examine patent applications submitted to the Ministry of Economy. A total of 2,200 applications are expected to be processed by the end of this year. The agreement will also facilitate the setting up of a Patent Unit within the Ministry of Economy in accordance with international standards.

The unit will help raise the awareness of intellectual property and patents across the UAE, while promoting the exchange of information on IP-related systems and practices. The unit will also initiate patent-related programmes and courses in the UAE.

“The purpose of this MoU and other similar international conventions underlines the UAE’s conviction on the crucial role that intellectual property plays in the business landscape to enable innovation, build a strong economy, promote sustainable development, and attract foreign investments,” Al Shehi said.

“Securing intellectual and industrial property protection is a matter of integrity for any nation. The UAE is applauded as a pioneer in protecting intellectual property rights in the region. Through our agreement with Kipo, the Ministry of Economy will continue to drive the UAE’s efforts in becoming a regional hub for patents for the benefit of entrepreneurs, inventors and innovators across the region.”