Dubai is one of the most popular business destinations in the world, attracting many business investors and many young entrepreneurs from all over the world. Although the demand for the business setup is increasing day by day the supply by the Dubai government is not decreasing it is just apt for the business investors to set up their business in Dubai and grow themselves as well as the economy of Dubai. With the increase in the business setups, the need for the IPR law is also optimum. Intellectual property laws are important for the proper governance of the business sector in every country, especially a huge Emirate like Dubai.
WIPO and Intellectual Property Law in Dubai
In general terms, intellectual property law governs the rights of the individual as well as the business organization. Intellectual property is a product which governs the human intellect including, creative idea, industrial models, songs, symbols as well as models and brands. The idea of IPR came into force in 1971 Federal Law regime.
WIPO stands for World Intellectual Property Organization, which is a government body responsible for the governing of the IPR laws and the issues related to intellectual property rights. WIPO has provided for the four major types of properties which are included under the purview of the intellectual property law in the world. These are:
- Trade secrets
Trade Secrets in the UAE
A trade secret is a term which has emerged recently. It is a type of intellectual property in relation to important or valuable information. It is an Intellectual property in the form of practice, formula, instrument, secret, design or a pattern. In general terms, it is a type of information related to a business or an organization which cannot be reasonably ascertainable by others of the general public. Such information is of utmost value to such respective organization. Trade secret is also called as the driver of the innovation. The UAE law recognises a major range of intellectual property rights, which have a major similarity between the UK, US as well as European law. The UAE has signed many conventions such as the Madrid Convention, WTO TRIPS and many others. The Federal Ministry of Economy governs intellectual property registration.
The UAE companies law which came into force on 1 July 2015 provides the provision containing "Disclosure of Company Secrets" under article 369. The UAE has already many trade secret provisions and misappropriation of the information. Hence, the UAE laws provide major regulations for the infringement as well as registration. The following types of trade secrets are provided by the Federal Law Number 31 of 2006:
- Company manuals
- Company programs
- Client identities
- Manufacturing process
- Product ingredients
- Technical information
- Strategic plans etc.
Trade Secret Audit
Audit implies the reviewing as well as the scrutiny of the company, wherein the major purpose is to assure complete organizational management. In general sense, it means to assure that all the compliance, business processes as well as strategies are regularly implemented and are provided for in the organization.
Essential requirement of a trade secret audit includes:
- Trade secret policies and procedures
- Trade secret valuation
- Trade secret portfolio
The above-mentioned documents should be successfully provided for after which the process of a trade secret will begin:
- Planning the reforms
- Communicating the said reforms
- Initiating personal interview session
- Reporting the reforms
- Analysing the data
- Gathering all the information in relation to the reforms and other such data involved.
Infringement of Trade Secret
The violation of a trade secret is known as misappropriation of a trade secret. When anyone deliberately discloses a trade secret, it involves severe fine and punishment under the UAE law.
Advantages of Availing Trade Secrets Services
Trade secrets services are actually important for an organization. By getting these services to form an expert agency, you can gain major benefits. Some of the advantages of availing the services of a trade secret service provider are:
- Enhancing the competitiveness of the organization
- Easing the legal as well as other paperwork formalities
- Innovation and formulas can actually be fetched up with the help of the expert.
- Getting immediate action.
- Gaining knowledge in relation to the current market trends as well the intellectual property laws and regulations.
An organization should be well versed with all the major reforms and regulations in relation to intellectual property rights. Trade secrets are essential intellectual property whereby you will be able to protect and secure your creation legally. In this running business environment, wherein everyone wants to be at the top. An organisation should be ensured with the trade secret for the particular activity they are implementing. We at Commitbiz provides you with solutions for all your business needs. Our experts will help you in availing the copyright services accordingly. For any type of queries, contact us. we would be happy to assist you.