The UAE patent law grants exclusive rights to the individual or entity who is responsible for the particular invention or who can claim the complete ownership of the invention. But certain conditions are to be met before applying for the patent. Irrespective of the field, the particular invention should be the realization of a novel idea. The necessary conditions are:
The invention should carry a scientific elucidation.
The invention should have uniqueness.
The invention’s industrial point of use must be evident.
As a minimum requirement, the invention should find its use in any one of the industries like farming, fish harvesting, service and handicrafts. Once the patent is registered under the Ministry of Economy, it is validity extends for a duration of 20 years.
Enhanced ROI – As the company enjoys certain exclusive rights, commercialization of the patented product can bring about enhanced Return on Investment.
The inventor gets patent rights – the business establishment acquires the right to utilize and exploit the invention and generate revenue out of it via manufacturing and selling.
Maintain an undisputed place in the market – As the product or invention has been patented, the competitors cannot replicate the same in the market for commercial use. This restricts competition and helps to maintain the flow of revenue. This, in turn, helps the business concern establish itself as a prominent market player.
Adds to the reputation of the company – if a business enterprise has acquired a patent for a particular product, it states that the particular company has the essential expertise and technological know-how to come up with a serious invention. This enhances the market value of the business and becomes helpful in finding investors and promoters.
Selling options – The business establishment that holds the patented product has full rights to either sell the patent or license the use of patented product or technology to another organization. The original patent holder attracts considerable monetary gains in this way.
The patent registration process comprises presenting the necessary drawings or designs or reports and the associated documents. The items are listed below.
Patent registration form