Business · Economy · 1 day ago

Intellectual property contributes up to 14% of Saudi Arabia’s national income

Intellectual property contributes up to 14% of Saudi Arabia’s national income

Intellectual property and other intangible assets are estimated to account for 13% to 14% of Saudi Arabia’s national income.

These assets include trademarks, patents, industrial designs and copyrights.

The Saudi Authority for Intellectual Property says it registered more than 56,000 trademarks and 20,000 patents last year.

Registrations grew by more than 10% in the first half of this year compared with the same period last year.

The authority says its role includes helping creators and businesses register their rights and turn them into economic value.

It is focusing on helping small and medium-sized businesses and entrepreneurs use intellectual property to grow and attract investment.

The effort is part of Saudi Arabia’s plan to build a knowledge-based economy under Vision 2030.

Sources

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