The Kingdom Launches National Intellectual Property Strategy

The Kingdom Launches National Intellectual Property Strategy^{1, 2, 3}

In further efforts to boost tourism in the Country, Saudi Arabia has initiated 10 new policies aimed at expanding the tourism sector and protecting tourists, according to the Minister of Tourism Ahmed Al-Khateeb. One of the 10 initiatives is the launch of the National Intellectual Property Strategy (NIPST).

National Intellectual Property Strategy (NIPST) aims at providing an environment that develops innovative technologies and industries and contributes to the growth of enterprises. The National Intellectual Property Strategy will further enable stimulating investment, create high-quality jobs, and raise awareness of creators and innovators' rights.

NIPST is based on the following four fundamental pillars:

• IP Creation: The main objective of this pillar of the program is to create national high-value IP assets.
• IP Administration: This pillar aims to improve the IP value by establishing a fast and high-quality registration system.
• IP Commercialization: This pillar aims at enhancing the competitiveness of IP-based products through the utilization of Intellectual property and maximizing its impact.
• IP protection: To respect intellectual property rights and enhance the value of protection of creative rights, the pillar of IP protection is one of the important pillars of NIPST. It aims at stimulating the market economy through IP protection.

Footnotes

1. https://externalportal-backend-production.saip.gov.sa/sites/default/files/2022-12/%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%B1%D8%A7%D8%AA%D9%8A%D8%AC%D9%8A%D8%A9%20%D8%A7%D9%84%D9%88%D8%B7%D9%86%D9%8A%D8%A9%20%D9%88%D8%AB%D9%8A%D9%82%D8%A9%20engfinal.pdf
2. https://saudigazette.com.sa/article/628250
3. https://www.arabnews.com/node/2222261/business-economy

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