Tuesday, June 20 2023   \  Published by Morgan Lewis .

6 Things to Know About Intellectual Property Protection in the Middle East

6 Things to Know About Intellectual Property Protection in the Middle East

Despite global shocks and forecasts of a global recession, economies in the Middle East showed "extraordinarily fast" growth in 2022, according to the World Bank. The countries of the Gulf Cooperation Council (GCC)—the United Arab Emirates, Saudi Arabia, Oman, Qatar, Kuwait, and Bahrain—all show commitment to further growth and place great value on diversification of their historically oil and gas dominated economies, with digital transformation, artificial intelligence, robotics, cloud-first, and emerging technologies at the core of their strategic development.

Investments in digital technology in the region are projected to exceed $70 billion in the next three years, with the UAE alone projected to spend $20 billion. It’s no surprise many news outlets have reported Silicon Valley venture investors touring the Middle East, seeking to raise funds and build long-term cooperation.

The GCC countries themselves form a significant market with a population of nearly 60 million, many of whom are young, educated, and of diverse national and cultural backgrounds, and extensively use the internet. It is the most urbanized region of the world, but also with a high level public safety. According to the "Doing Business" rating of the World Bank, the GCC countries perform well above many Latin American, African, and Asian jurisdictions in, with the UAE winning a 16th place. Read more

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