Iran, is the second-largest nation in the Middle East. Iran shares borders with Armenia, Azerbaijan, Kazakhstan, Turkmenistan, Afghanistan, Pakistan, Turkey, and Iraq.
The country has a coastline that stretches 2,440 km along the Caspian Sea, Persian Gulf, and Gulf of Oman. Iran’s GDP (purchasing power parity) is estimated to be $987.1 billion, whereas the GDP per capita is $12,800. Industry accounts for 44.9 percent of the GDP composition, followed by 44.5 percent for services, and 10.6 percent for agriculture. Industries in Iran include petroleum, petrochemicals, construction materials, and food processing.
The country’s main exports are petroleum and chemical and petrochemical products. Imports to Iran include industrial supplies, capital goods, foodstuffs and other consumer goods, and technical services.
As aforementioned in earlier editions of the Saba IP Bulletin, Iran is expected to become a major hub for regional trade following the imminent lifting of sanctions. In the coming weeks and months, we recommend that brand owners start reviewing and assessing their existing IP portfolio in the country in order to ensure that their portfolio management strategies are aligned with the overall business strategy.
Flowcharts outlining trademark and patent prosecution may be viewed here.
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