As the knowledge-based economy is growing in Saudi Arabia, the role of Intellectual property assets is also increasing. If you’re working on how to develop your startup idea or your business is already up-and-running, it is essential to learn how to protect your Intellectual Property rights in Saudi Arabia.
By protecting your startup’s Intellectual Property, it will help in:
• Monetizing your work & ideas,
• Helping in securing funding,
• Avoiding the theft of your idea,
• Moreover, leading to higher valuations.
Many general principles are important for effective management of Intellectual Property rights in KSA.
How to Protect Intellectual Property Rights in Saudi Arabia?
It is essential to understand that Intellectual Property rights are primarily a company’s private right that needs to be registered in Saudi Arabia’s local laws. It is a company’s or startup’s responsibility to
• Protect, and
• Enforce their rights.
Intellectual Property, which includes trademark rights, patent rights, company’s designs, copyrights, is being created every day & within every company. Depending on the niche of your startup whether it is a software, a brand, any compound, artwork or any idea you’re working on understanding the types of rights that need to be created & are capable of being protected.
Mostly startups, & other companies handle the Intellectual Property rights with a “Do-It-Yourself” approach. It can be risky in the long term for the estimation of your company. Once you know your rights, appropriate guidance from a qualified Intellectual Property counsel is required at this step. Founders or entrepreneurs are required to work with any local law firm to protect Intellectual Property rights in Saudi Arabia.
Some of the Intellectual Properties that are capable of being protected in Saudi Arabia are:
• Copyright Works,
• Trade Marks,
• Domain Names,
• Industrial Designs and Models.
The Intellectual Property rights in Saudi Arabia can be protected by two primary means:
1. Registration of the right through a legal authority in Saudi Arabia
2. Through Contracts, like licensing or non-disclosure agreements.
Lastly, there is no “one-size-fits-all” strategy for Intellectual Property. Your legal counsel can guide you better in the ideal approach to identify, protect & register your IP rights under the local laws of KSA.