The Dubai Department of Economic Development (DED) and Dubai Silicon Oasis Authority (DSOA) have signed a co-operation agreement to unify reservation procedures for trade names to avoid their duplication across the emirate.
As per the agreement, DED will provide DSOA with a copy of its licensing system that records trade names and link them to the Department electronically.
DED will also monitor all phases of installing and operating the system. DSOA will assign one of its staff members to be trained by DED on how to use the licensing procedures related to trade name registration.
DSOA will ensure that the trade names are not duplicated or are very similar to others before granting the preliminary approval.
DED will authorise the use of its data licensing system to DSOA to record trade names. DED will also facilitate procedures related to licensing, registration, renewal or cancellation of companies licensed by DSOA.
The agreement was signed by Sami Al Qamzi, Director General, DED, and Dr Mohammed Al Zarouni, Vice-Chairman and CEO of Dubai Silicon Oasis Authority.
"The co-operation agreement comes in line with DED's directives of achieving the vision of Dubai Government in further developing the various economic sectors and providing a competitive investment climate to attract local and foreign investors to do business in Dubai. DED will assist investors by co-ordinating with other government departments and authorities in achieving our objectives," said Al Qamzi.
"Trade names are the most important aspect of any business and have a strong role to play in the success of the business. We are pleased to sign the pact with DSOA, which will contribute in enhancing the level of services provided to customers by creating a unified system for registration of trade names," Al Qamzi said.
Dr Zarouni said: "The pact with DED will play a crucial role in unifying the registration procedures for trade names, which are the driving forces of any business."