(MENAFN- Khaleej Times) The Department of Economic Development in Dubai has announced the launch of a quarterly indicator of the level of intellectual property rights, or IPR, protection in the emirate.
The "Dubai Index of Intellectual Property", a first of its kind in the region, is aimed to promote sustainable business practices as well as overall market confidence and trust between the public and private sectors.
The Commercial Compliance and Consumer Protection, or CCCP, sector in the DED has initiated the index as part of its efforts to improve the IPR environment, promote innovation and protect the economic interests of dealers, suppliers and patent owners.
The index will also serve as an accurate reading on the level of satisfaction with policies, practices, laws and regulations related to IPR protection. The index will be published every three months, starting with the first quarter of 2015.
Sami Al Qamzi, director-general of the DED, said market surveys and indices play a major role in DED's efforts to develop economic legislation, adding that the IP index will also be of great importance to brand owners.
"The Dubai Index of Intellectual Property will encourage innovation and growth, while protecting the legitimate interests of the traders and patent owners, thus promoting sustainable economic growth and greater competitiveness in Dubai's retail sector."
"The IPR index demonstrates CCCP's efforts in protecting IPR. The index will also help identify areas for improvement in the regulatory policies, processes, and strategies in the domain of IPR protection by gathering opinions and expectations of brand owners, law firms, distributors and trading agencies," said Omar Bushahab, CEO of CCCP. "CCCP has signed a partnership with the global research firm Nielsen to conduct the quarterly surveys as part of compiling the IP index. The surveys will also reveal the level of awareness on existing IPR laws and policies."
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