Launch of the First Digital Platform for Buying and Trading Trademarks in the Country
The Ministry of Economy and Tourism has announced the launch of **the first digital platform for buying and trading trademarks in the country**, named “Trademark Market.” This platform is the first of its kind in the region and aims to transform the trademark landscape in the UAE, enhancing the country’s attractiveness to global companies and making significant strides in the digital economy.
Innovative Initiative to Support the Economy
Minister of Economy and Tourism, Abdullah bin Touq Al Marri, emphasized that the **Trademark Market** platform represents the result of collaborative efforts between the Ministry of Economy and the UAE Government Leaders Program. “The platform allows registered trademark owners to list and trade their trademarks in a safe and transparent environment, aligning with the leadership’s vision to enhance the knowledge-based economy and innovation,” said Al Marri during a press conference at the launch event.
Enhancing Assets and Competitiveness
The **Trademark Market** platform seeks to support private sector companies, especially small, medium, and family-owned businesses, by transforming trademarks into tradable assets. This contributes to enhancing the economic value of trademarks, driving innovation and growth in the national economy. It is expected that the market’s attractiveness for trademarks will increase by 20% in the first year of operations.
Registration Mechanism and Transparency
The Ministry of Economy has provided a reliable mechanism for trademark documentation through this platform, facilitating buying and selling processes. According to current legal provisions, transactions will be limited to trademarks registered in the UAE, ensuring the protection of owners’ rights. All operations require user login for identity verification, along with a secure electronic payment system.
Significant Growth in Trademark Registrations
Al Marri revealed that approximately 34,234 trademarks have been registered in the country since the beginning of the year, including 19,957 trademarks registered in just the first half, representing a remarkable increase of 129% compared to the same period last year. This reflects the success of initiatives and efforts to streamline trademark registration processes in the UAE.
It is noteworthy that the launch of the **Trademark Market** platform is a pioneering step towards improving the business environment and fostering innovation, as it helps transform trademarks into tradable economic assets, enthusiastically reflecting the evolution of the UAE economy.
This initiative marks the beginning of a qualitative transformation in the trademark sector in the country, enhancing the UAE’s position as a leading investment destination. By facilitating transactions, the platform is expected to attract more global and local companies, increasing competition and innovation in the market.