Saudi Crown Prince launches National Intellectual Property Strategy

Saudi Arabia’s Crown Prince and Prime Minister Prince Muhammad bin Salman bin Abdulaziz launched the National Intellectual Property Strategy, which is one of the possibilities to achieve the Kingdom’s Vision 2030, which aims to build an intellectual property system that supports the economy based on innovation and creativity by establishing an intellectual property value chain Competitiveness stimulates innovation and creativity and supports economic growth to make the Kingdom a leader in the field of intellectual property.

The Crown Prince affirmed his aspirations to stimulate creativity and innovation through the National Intellectual Property Strategy in the Kingdom of Saudi Arabia for the next five years, following the government’s decision to adopt the National Intellectual Property Strategy .

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He said: “We have minds and energies passionate about innovation and creativity, and by enabling it, the Kingdom will be a fertile environment for the knowledge economy through an integrated intellectual property system that supports the development of innovative technologies and industries and contributes to the growth of businesses. The national intellectual property strategy will also help stimulate investment, create quality jobs and raise awareness of creators’ rights.” and innovators.”

To ensure the growth of innovation and stimulate creativity, the National Intellectual Property Strategy was based on four fundamental pillars: the generation and management of intellectual property, commercial investment and protection of intellectual property, and investment growth globally, through the objectives of the National Intellectual Property Strategy, which enhances the Kingdom’s ability to generate intellectual property assets of economic and social value.

Based on the importance of generating intellectual property and based on what the Kingdom has of creative minds and young talents innovating in various fields and other competitive advantages, the generation of intellectual property has become one of the pillars of the national intellectual property strategy, which is aimed at the Kingdom through this pillar to enhance the ability of the Kingdom to generate intellectual property assets High economic and social value .

In order to respect intellectual property rights and increase the value of their protection for creative rights, the pillar of intellectual property protection has become one of the important pillars of this strategy, which aims to activate the market economy through the protection of intellectual property.

In order to contribute to the growth and attraction of investment in the Kingdom, and on the basis of the Kingdom’s investment in cities future and in projects based on innovation and creativity, such as The Line and NEOM, and due to its distinct geographical location and strong digital infrastructure, the Commercial Investment Pillar has been chosen as one of the pillars of the National Intellectual Property Strategy, which aims to improve the competitiveness of products through the use of intellectual property and maximize its impact.

In order to ensure the effective management of human creativity, the Department of Intellectual Property has become one of the pillars of the national intellectual property strategy, and aims to enhance the value of intellectual property by establishing a high-quality and rapid system for its registration .

Each pillar will also have a set of initiatives assigned to government agencies, and they will be measured periodically according to a governance framework that defines roles and responsibilities, which includes making decisions on important issues related to the implementation of strategic projects and providing support to them.

The adoption of the National Intellectual Property Strategy supports the empowerment of male and female creators in various fields to build an ambitious nation and a diverse and prosperous economy for the Kingdom of Saudi Arabia and to attract interested researchers, entrepreneurs and innovators from within the Kingdom and in around the world through innovation, creativity and respect for intellectual property rights.

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