The Arabian Peninsula achieved a milestone by adopting some limited provisions for the protection of Intellectual Property (IP) rights. Kuwait was the first one after Saudi Arabia to initiate it. They took the key step for the protection of Intellectual property IP standards. Therefore, there was a creation of a regional benchmark. This will address the patent and industrial design. The law and statutes within its civil, commercial, and penal laws will govern it. In the 1960s and 1970, the 2 prominent nations of the Middle East introduced trademark protection laws. Kuwait and Bahrain took the initiative and progressed with the trademark protection laws.
On the other hand, Qatar was also pondering over how to enact the laws and legal provisions. Nonetheless, 2 nations in the Middle East lagged in introducing certain laws and Intellectual Property IP protection. Oman and the United Arab Emirates UAE were among them. UAE took no step to safeguard the copyrights, trademarks, and patents till this time. Moreover, the Gulf Cooperation Council (GCC) countries were also among the delayed introductions. For UAE, Ask The Law, lawyers and legal consultants, are useful platform for grabbing the details.
GCC – Gulf Cooperation Council
The countries under the Banner of the Gulf Cooperation Council GCC showed reluctance to adopt international legal frameworks and their instruments. However, all the countries that are part of the Gulf Cooperation Council GCC were also members of the World Intellectual Property Organization (WIPO).
It is an international organization that adopts, introduces, and encourages the implementation of Intellectual property rights IP. Furthermore, all the nations were also part of international treaties and international conventions that advocate governing Intellectual Property IP rights.
UAE History in IP Rights and Development
UAE doesn’t have a long-standing history in the development and growth of IP rights. Being part of the Gulf Cooperation Council GCC, the nation heavily relies on revenue generation via gas and oil. In recent times, innovation and technological advancement have shown rapid growth. This radical change has compelled the UAE to pave its path toward a Global Innovation Index Score.
- Example: In Europe, the pharmaceutical industry is highly Intellectual Property intensive. It majorly contributes to the country’s Gross Domestic Product and employment level.
- Example: America furthermore, America is not far behind in this field. Recent reports have shown that the USA has surpassed several nations in the field of research and development in the Pharmaceutical industry.
Pharmaceutical IP Rights
Therefore, the protection of pharmaceutical IP rights is essential in every part of the world. This ensures innovation and new creations in the medicinal sector are protected. It will further encourage the research and development of untapped pharmaceutical needs. With intellectual Property IP rights protection, the new invention enjoys the rights and revenues without getting copied or morphed. In the early years, the pharmaceutical inventor could enjoy a temporary monopoly.
Research and Development
It assists the innovators in reimbursing the expenditure of research, development, innovation, and experiments by earning high revenues and profits. This encourages the innovators and inventors to keep their ideas confidential.
Besides, it also restrains the cheaper counterfeits from getting undue advantage. In the modern era, the Gulf Cooperation Council GCC has increased its efforts towards research and development in the medicinal sector.
Therefore, they have undergone a bold transformation by investing in it. Now, the patented drug dominates the Gulf Cooperation Council GCC markets with almost 60 percent share. In comparison to the other nations in the Gulf Cooperation Council GCC, the UAE has shown keen interest in IP rights. They have excelled in the innovation of the medicinal sector. The UAE has encouraged innovation in pharmaceutical products.
Ministry of Economy
The Ministry of Economy introduced the federal law in 2021 to regulate and protect IP rights. Furthermore, the Ministry of Health and Prevention has also issued laws and legislation to regulate the sector.
UAE has motivated pharmaceutical companies to get patent protection for their pharmaceutical products. It is to ensure the safety of the innovation and against generic products in the market. UAE has revised its current regulations and laws to achieve the objective. They are focused on granting more rights to those having patents and utility certificates.
Conclusion:
Additionally, the nations who are part of the Gulf Cooperation Council GCC have extended their commitment towards research and development along with innovation and investment in the Healthcare and pharmaceutical sectors. Gulf Cooperation Council GCC offers a conducive environment to protect pharmaceutical Intellectual Property IP rights. The Gulf Cooperation Council GCC is active in addressing the existing challenges, ambiguous procedural framework, and variation in the regulations. They have shown keen interest in safeguarding the pharmaceutical Intellectual Property IP rights.