Dh1,000 saving leads to Dh1.5m intellectual property loss
Dubai: A business owner’s decision to save Dh1,000 on a contract eventually contributed to the loss of a commercial trademark and compensation of more than Dh1 million, according to UAE lawyer Ibrahim Al Hossani, who warned businesses and creators against delaying intellectual property protection. The dispute lasted about a year and a half and went through several levels of litigation before…
A businessman opted to save Dh1,000 on a contract, which later resulted in the loss of a commercial trademark valued at over Dh1 million, according to UAE lawyer Ibrahim Al Hossani. The case, which lasted for 1.5 years, went through various stages of litigation before arriving at a final judgment. Al Hossani emphasized the importance of protecting intellectual property and cautioned businesses and creators against procrastinating on securing such protection.
The dispute revolved around a contract that the client refused to sign due to its Dh1,000 fee. The total loss amounted to approximately Dh1.5 million, including the loss of the commercial mark. Trademark registration, if done from the beginning, would have cost around Dh6,500 to Dh6,700, with potential additional fees if a registration agent was hired.
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