ABU DHABI – The new Competition Law (Federal Law No. 4 of 2012) which has been published in the Official Gazette will come into force in the United Arab Emirates on February 23, 2013, a press release by Abu-Ghazaleh Intellectual Property.
The Law aims to protect and enhance competition, as well as prohibit anti-competitive practices in order to create more business-friendly environment in the UAE.
The Law applies to all companies, inside and outside the UAE, with respect to their economic activities or use of Intellectual Property Rights.
The concerned companies have to consider their activities carefully concerning franchising rights, intellectual property licensing, mergers and acquisitions or other commercial activities to ensure compliance with law provisions and regulations.