Intellectual Property Rights For SMEs

Small and medium enterprises ("SMEs") are the backbone of any economy as they employ workers, utilise local resources, attract investment, and encourage innovation and creativity.

The UAE is no different, with SMEs making up the major form of business here. SMEs in Dubai constitute around 50% of the total number of businesses and provide jobs for around 60% of the labor force.¹ In light of this, the UAE government is encouraging SMEs, and a federal law regulating SMEs activities has recently been drafted.

The core business of many SMEs is based on simple but innovative ideas for products or services, creative designs or trade secrets. These constitute intangible assets that can be more valuable than tangible assets if protected as intellectual property rights and utilized appropriately. However, many SMEs ignore these rights, mostly because of a lack of knowledge or because of the costs involved. Here, we will highlight the importance of intellectual property