“The adoption of the Intellectual Property Act of the AIFC is of great importance both for the centre itself and for Kazakhstan as a whole,” said Timur Berekmoinov, partner and head of the IP team at GRATA International in Almaty. “First of all, the act provides clear and reliable rules for the protection of IP rights, which makes the AIFC attractive for companies operating in innovative industries such as fintech, IT and biotechnology. It increases business confidence in the safety of its assets. Clear regulation of IP issues helps to attract foreign investment.” 

Berekmoinov added that AIFC’s independent court ensures transparency and fairness of decisions which is particularly important for international participants. 

These benefits will not be felt solely by AIFC. Adoption of the IP Regulations will eventually impact the entire country. 

“The experience of applying international standards within the framework of AIFC may become the basis for reforming the system of IP protection at the national level. Protection of IP rights stimulates the transfer of technology and knowledge to Kazakhstan, which helps to modernize the economy and develop the sphere of startups in [the country]. In addition, the creative industry is actively developing in Kazakhstan. Reliable protection of IP objects will also attract international investors and contribute to the development of the creative industry in Kazakhstan,” Berekmoinov explained. 

Overall, the adoption of the act demonstrates to the international community Kazakhstan's aspiration to meet world standards in the field of IP and improves the image of the country as a reliable partner. 

The IP Regulations will not have a separate registry and IP rights registered in Kazakhstan will be recognized within the purview of AIFC’s IP system. 

- Espie Angelica A. de Leon