Muscat: The Shura Council's Committee for Education, Scientific Research, and Innovation convened with experts from the Ministry of Commerce, Industry, and Investment Promotion on Tuesday to explore strategies for enhancing the economic benefits of intellectual property and its significance in economic diversification.
During the session, the experts presented a visual overview of various strategies aimed at increasing the economic value associated with intellectual property.
The presentation covered several aspects, including trademark rights, copyright issues in scientific research, and other patent-related topics, such as innovations from students. These elements are anticipated to yield financial returns for project developers, create employment opportunities, and enhance government revenue.
Additionally, the visual presentation examined the challenges and opportunities linked to geographic indicators across social, economic, and tourism sectors, while also stressing the importance of maintaining national identity within the context of intellectual property.
Moreover, it highlighted how these initiatives can safeguard investors and innovators in the Sultanate of Oman, enabling them to navigate challenges and capitalize on opportunities for their creative endeavors.
The specialists further emphasized the critical role of intellectual property in fostering intellectual and creative productivity by providing investors with exclusive rights and protections for their innovations and creations.
They also pointed out its vital contribution to strengthening the knowledge economy, where information has become a key resource in a knowledge-driven economic framework.
The economic influence of intellectual property plays a crucial role in optimizing the utilization of information found in databases and patents, ensuring that it is accessible to relevant stakeholders.
This can be accomplished by organizing specialized workshops for inventors, utilizing Omani geographic indicators, and providing support and funding for both pioneering and emerging national inventions and innovative enterprises.
Additionally, the presentation highlighted the significance of international economic collaboration in the realm of intellectual property, particularly in fostering external trust and bolstering the Sultanate of Oman’s standing as a regional and global center for intellectual property partnerships.
During the meeting, the distinguished committee members proposed various recommendations, including financial support for inventors to develop their inventions and enhancing collaborative efforts with different government agencies and institutions to uphold intellectual property rights, increase awareness, and cultivate a national ethos surrounding intellectual property.
This meeting took place as part of the fifth session of the second regular meeting (2024–2025) of the tenth term (2023–2027), chaired by Jamal Ahmed Al-Abri, Chairman of the Committee, with the participation of esteemed committee members.
