On November 15, 2024, the Astana International Financial Centre (AIFC) approved the Intellectual Property (IP) Regulations. It will become effective from January 1, 2025, DKnews.kz reports.
This document aims to strengthen IP protection and secure rights through modern legal norms based on advanced international practices. Combined with the previously adopted Venture Studio Rules, the AIFC provides unique opportunities for businesses in the creative industries to leverage the financial centre's infrastructure and legal framework to implement their projects.
The adoption of the new IP framework is a testament to the AIFC's commitment to fostering innovation and protecting intellectual property rights at the highest international standards. By addressing demands of the creative community and introducing progressive legal mechanisms, we are creating a secure and transparent environment that empowers businesses, creators, and inventors to thrive Daniyar Kelbetov, Chief Product Officer
The AIFC Intellectual Property Regulations and Venture Studio Rules allows creators and innovators to protect their intellectual assets while providing investors with greater confidence when financing innovative new projects. The dual focus on protection and promotion highlights the AIFC's mission to catalyze technological progress, foster the development of the creative economy, and drive economic growth, solidifying its role as a global hub for innovation, collaboration, and investment.
The key features of thenew framework includes:
- Scope of application
The AIFC Intellectual Property Regulations apply to all intellectual property-related activities within the jurisdiction of the AIFC.This includes the protection, use, enforcement, and commercialization of intellectual property rights such as patents, trademarks, copyrights, trade secrets, and other IP assets.
- Recognition of the intellectual property rights
The AIFC Intellectual Property Regulations do not establish any separate registry for intellectualproperty rights. Any intellectual property rights registered in the Republic of Kazakhstan under applicable National Laws are recognised as valid and enforceable under the AIFC Intellectual Property Framework.
The innovations expand the concept of patent infringement to include indirect actions, such as incitement to or assistance in violations. They also introduce the possibility of resolving disputes regarding violations in AIFC Court or at the International Arbitration Centre. Additionally, the Act containsprovisions related to intellectual property created by employees in the course of their employment, ensuring a balance between the rights of employers and fair remuneration for employees.
- Commissioner for Intellectual Property
The position of the Commissioner for Intellectual Property has been introduced, serving as an independent body for resolving disputes out of court. The Commissioner is authorized to develop rules and standards for IP management and to implement measures ensuring compliance with the relevant regulations.
- Alignment with international standards
The framework aligns with global best practices in intellectual property protection and enforcement, offering a predictable and reliable legal environment. This fosters trust among international investors and encourages businesses and innovators to operate within the AIFC.
For more details, the AIFC Intellectual Property Regulations can be accessed via the following link: AIFC Intellectual Property Regulations
