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Deal by Design
Welcome to this edition of Law Update, focusing on the evolving M&A landscape across the MENA region. With deal activity and value continuing to grow, the region is seeing increased investor interest alongside a changing regulatory environment.
This edition explores key legal and market developments affecting M&A transactions, including regulatory reforms, foreign investment, governance, due diligence and deal structuring across the region.
Odai Mismar - Senior Associate - Corporate Structuring
Saleem Kharraz
Introduction
As part of the process of acceding to the WTO, Jordan has enacted its new Patent Law No. 71 of 2001 (the “Patent Law”), in accordance with the international standards which Jordan has been committed to through joining the TRIPs Agreement. This law also came to remedy the previous law (Patent Law No. 23 of 1999), which suffered ambiguity in several respects.
In general, the rules of the new Patent Law enjoy clarity and simplicity, and are well divided under various main subjects of the Patent Law. The main subjects are gradually headlined in the Patent Law as follows: Registration of the patent, Rights of the patentee, Licensing of inventions, Expiry and nullification of patents, Industrial property registration agents, Crimes and penalties, the Precautionary measures, and Closing rules.
The major amendments:
In substance, the amended Patent Law contains new established rules and modified rules. The major amendments can be summarized as follows:
The procedures
Once the application is filed, it is queued to be examined by Jordanian patent office with respect to compliance with formalities. If accepted the applicant is notified to settle the substantive examination fees. Upon settlement, the application is forwarded to substantive examination. The examiner may request amendments to the application. When the application meets all the requirements stipulated in the Patent Law and the terms of granting the patent, and upon settlement the publication fees, a decision of preliminary is issued and published in the official Gazette. In absence of any opposition within 3 months as of the publication date, the register shall issue his decision granting the patent after the payment of the due fees.
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