The Dubai International Financial Centre Authority has enacted a new IP law aimed at fostering innovation and improving the protection and enforcement of IP rights. On 21 November 2019, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, enacted a new Intellectual Property Law (Law No. 4 of 2019, the DIFC IP Law).
Cabinet Decision No. 51 of 2019 (issued on 4 July 2019 and published on 7 July 2019), introduces a new fee and fine structure, whereby fees for over 100 services will be cancelled, and those of eight services will be reduced by up to 50%. This is welcome news for brand owners, whose fees have now been reduced by up to 50%, particularly those considering trade mark registration in the UAE.
Over the past week, various reports from news outlets and other sources have suggested that some of the restrictions on the movements of goods between the United Arab Emirates (UAE) and Qatar imposed by the UAE, Saudi Arabia, Bahrain and Egypt (Boycotting States) in June 2017 as part of the boycott on Qatar have been partially lifted.
Leading global law firm Baker McKenzie Habib Al Mulla has represented a major real estate developer in the United Arab Emirates (UAE) in successful appeals to two cases to the Dubai Court of Cassation relating to the sale of off-plan property developments in Dubai, and helped set new precedents in this field, reinforcing confidence in the real estate market.
Since the 2008 global financial crisis, the United Arab Emirates (UAE) has taken great care to reinforce confidence in the real estate market. Most recently, the Dubai courts, in particular, have issued a number of landmark judgments that aim to balance the competing interests of developers and buyers, to facilitate the sale and purchase of property in the Emirate, and to keep the market as buoyant as possible in the face of a global economic slowdown.