News & insights
Saudi Arabia: Developing Intellectual Property to Promote Economic Progress
April 24, 2019
In its ongoing efforts to advance the intellectual property protection scene in Saudi Arabia, the Saudi Authority for Intellectual Property recently ratified two memorandums of understanding, one with the United States Patent and Trademark Office and the other with the Korean Intellectual Property Office.
The MOUs, which were both signed at the General Assembly of the Member States of the World Intellectual Property Organization in Geneva, were recently ratified by the ministry concerned through Ministerial Decision no. 395 of 2019 and Ministerial Decision no. 412 of 2019.
The MOUs aim to facilitate the processing, examination and registration of applications for patents, industrial designs and trademarks. They also aim to enhance Saudi Arabia’s cooperation with the United States and South Korea.
Saudi Arabia shows its commitment to develop and establish a competent IP system and demonstrates its awareness of the strategic importance of IP on the country’s economic development.
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