Intellectual Property Transforms into Economic Assets in Saudi Arabia .. A New Vision for the Future

In a strategic move that places the Kingdom on the map of the global knowledge economy, Dr. Abdulaziz Al-Suwailem, the CEO of the Saudi Authority for Intellectual Property, revealed the Kingdom's direction towards managing intellectual property rights as economic assets that can be invested in and generate added value, rather than merely registering them.

Al-Suwailem explained that patents, trademarks, and copyrights are considered intangible assets, but they have the potential to be transformed into sellable, purchasable, and licenseable assets, and even collateral, which enhances economic impact and contributes to building a sustainable knowledge economy.

He pointed out that 70% of patent registration applications in Saudi Arabia come from major global companies, reflecting the attractiveness of the Saudi market to global investors, while the percentage of individual applications reaches 31%.

Intangible assets traded in the Saudi financial market have also seen a strong surge of 71% since the launch of the national intellectual property strategy in 2022.

As part of the Authority's efforts to enhance the protection and enforcement environment, Al-Suwailem confirmed the launch of several initiatives, including the establishment of a specialized prosecution for intellectual property cases, extending the protection period for industrial designs to 15 years, in addition to enhancing electronic enforcement of copyright and trademark rights.

These measures have contributed to raising community awareness of intellectual property issues to 65%.

Al-Suwailem revealed that 60% of the cases the Authority deals with relate to the use of products and works without the permission of their owners, prompting intensified regulatory efforts to protect rights.

Copyright registration has also seen significant growth of 65%, especially from researchers in universities and research centers, while the percentage of trademark registrations has risen to 16%.

Al-Suwailem concluded his remarks by affirming that Saudi Arabia has achieved the 13th rank globally in the Intellectual Property Rights Enforcement Index, with ambitious plans to transition to a sustainability strategy during the period from 2027 to 2032, and to develop a model for measuring the economic impact of intellectual property on GDP.

These steps reflect the Kingdom's vision to enhance the knowledge economy and support investment in innovation, making Saudi Arabia a leading model in the protection and investment of intellectual property rights globally.