Dubai IP Valuation Seminar Recommends Bringing International Practices in IP to the Arab World

28 Nov 2005

DUBAI - Organized by Federation Internationale Des Conseils En Propriete Industrielle (FICPI) and Licensing Executives Society - Arab Countries (LES-AC), and sponsored by Abu-Ghazaleh Intellectual Property (AGIP), the "Intellectual Property (IP) Valuation" seminar was held at Al Bustan Rotana Hotel in Dubai November 27 -28, 2005.

The seminar concluded with fundamental recommendations that will positively affect IP valuation in the Arab region.

Inaugurated by Mr. Talal Abu-Ghazaleh, Chairman and CEO of Talal Abu-Ghazaleh Organization, the event hosted 120 experts, IP owners and lawyers, from several Arab and foreign countries.

In his closing speech, Mr. Abu-Ghazaleh recommended that a global consensus of experts on IP valuation and financial reporting is needed and that the Arab Society for Intellectual property (ASIP), Arab Society of Certified Accountants (ASCA), and ESAC would call for a workshop of experts to start the process.

He also stressed on the importance of inviting experts in intellectual property rights (IPRs), law and accountancy professions to the workshop.

He pointed out that the invitation should, at least, be extended to the Public Company Accounting Oversight Board (PACOB), Federation Internationale Des Conseils En Propriete Industrielle (FICPI), Licensing Executives Society International (LESI), International Association for the Protection of Intellectual Property (AIPPI), American Intellectual Property Law Association (AIPLA), International Trademark Association (INTA), US Patent and Trademark Office (USPTO), Japan Patent Office (JPO), European Patent Office (EPO), Intellectual Property Owners Association (IPO), the Office of Harmonization for the Internal Market (OHIM), and the United Nations Children’s Fund (UNICEF).

Other organizations, which can be included, are the International Federation of Accountants (IFAC), International Chamber of Commerce (ICC), American Institute of Certified Public Accountants (AICPA), American Corporate Counsel Association (ACCA), the National Association of Certified Valuation Analysts (NACVA), the American Bar Association (ABA), in addition to law associations, IP assets owners and IP firms & accounting firms.

It is expected that the workshop will elect a Task Force (TF) to undertake work related to valuation methodology and policy, accountancy standards related thereto including presentation as well as auditing standards related thereto including reporting.

The seminar focused on the valuation and pricing methods relating to intellectual property, with specific reference to the Arab world.

The speakers included such internationally renowned leaders on the topic of Intellectual Property Valuation in the world notably, Dr. Ulrich Moser, partner in Ernst &Young’s, Dr. Heinz Goddar, partner in Boehmert & Boehmert, Mr. Ingo Bruckner, attorney at Daimler Chrysler AG, Mr. Danny Huntington, partner in Bingham McCutchen, Mr. Waleed Hashem, executive director at Talal Abu-Ghazaleh & Co in Abu Dhabi and Mr. Ehab Dawoud, financial controller at AGIP.

Speakers tackled major practical issues related to the valuation of trademarks and innovative technologies, which are important intangible assets to companies. In addition, the event addressed the issue of how to evaluate intellectual property rights (IPRs) by adopting best international practices.

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