Start-up firms are ambitious entities that phase into the market slowly and start scaling their business from one target of customers to another. The customer market keeps growing based on the unique product or service that the company offers to its buyers and how they supply it to them within satisfactory time periods amalgamated with assured quality. As the business grows, so does the name of the business which creates a value in the market for being associated with the business name. Such is the lengthy journey from being a hustling business in the market to a reputed still hustling brand recognized by the entire industry. The start-up firms which acquire industrial recognition become official brands with exclusive logos, designs, products, and trademarks.
Official brands often find it easier to set up the business in Dubai or various other locations across the globe. A start-up showing potential for growth and development must focus on business administration as much as it concentrates on business development. Therefore, top-level managers must apply for patenting and trademarking of intellectual properties to acquire legal immunity and corporate exclusivity over the usage of these intangible assets. Every government across the globe provides various rights and legal remedies for the usage of intellectual properties as part of their Company Law/Corporate Act. The government of the UAE has strict laws governing Intellectual Property Rights, giving businesses a sense of security against counterfeit fraud goods; therefore, serving in the process of business setup in the UAE.
What is Intellectual Property?
The affiliated value of the brand name, logo, merchandise value, and various intangible properties also scales higher as the business grows. For example, Ferrari is one of the world's most famous luxury automobile manufacturers. Still, it is no plain shocker that one notices Ferrari's logo and designs on various apparel, toys, and accessories. This is a simple example of the usage of intellectual property. Intellectual property refers to the intangible assets of a business such as the Logo, Brand Name, Designs and Blueprints that are legally owned by the firm when they have applied for a patent or trademark for the intellectual property. This legal patent will restrict any other legal entity from using the intellectual property without the permission of the owner.
Importance and Protection of Intellectual Property
A start-up firm must be very keen and cunning when managing their patents and trademarks, especially when the company's brand name, new invention or technology, exclusive designs are in the picture. Start-up firms that neglect the importance of IPR often regret having become victim to counterfeiting of goods or plagiarism of designs from competitors or new businesses. Thus, businesses must avail services such as trademark registration services in UAE to protect their intellectual property from being misused.
The protection of intellectual property rights is important to prevent the business from being subjected to plagiarism and loss of exclusivity to existing players or new players in the market. A business idea cannot be copied so; therefore, the competition will remain in the market, but what unique tools are used to provide the product or service to the customers separates the successful brands from the still struggling ones. These unique tools are –
- Manufacture designs and blueprints which are depicting unique procedures for production.
- Trade secrets which comprise of supply techniques and trade tactics.
- Exclusive logos and trademarks used for marketing, advertising and branding of the start-up company.
World Intellectual Property Organization (WIPO)
World Intellectual Property Organization (WIPO) is a government body that is responsible for the governing of the trademark and IPR laws and matters related to the Intellectual Property and protecting the same. The organization includes members from the states who ensure that there is no violation of the fundamental rights.
According to the WIPO, there are majorly four categories of intellectual properties. These are:
- Trademark
- Copyright
- Patents
- Trade secret
If a business aspires to grow their business in Dubai, then it is always a healthy habit to refer to the Guide on Intellectual Property Rights in Dubai for more knowledge on how IPR laws constitute the Emirati business law and how the various intellectual properties are defined, recognized and treated in the eyes of Emirati law.
Approach Commitbiz for Help
We at Commitbiz specialize in the Arab business market with more than a decade of experience in serving small and large companies to grow and set up business in the UAE. We provide company secretarial services at a professional level which also comprises of Trademark Registration in UAE. We offer a variety of tailor-made services to our clients to help them in business administration and understand the market. Contact us to know more.
