LES-AC Advisory Board to Develop IP Valuation Standards in the Arab World
23 Feb 2006By Nada Zaitoon
AMMAN - The Licensing Executives Society-Arab Countries (LES-AC) on Wednesday established an advisory board to develop Intellectual Property Valuation Standards in the Arab world.
The LES-AC Intellectual Property (IP) and Financial Reporting Task Force meeting which was chaired by Talal Abu-Ghazaleh, chairman and CEO of Talal Abu-Ghazaleh Organization (TAGorg) stressed on the need to act immediately.
"We believe that now is the right time to work on developing our own IP standards for the Arab world," he said.
"Our serious and immediate action will attract the attention of the international community," he added.
Abu-Ghazaleh pointed out that the Advisory Board will include IP experts, lawyers, economists, engineers and businessmen.
"These professionals from different organizations such as: The Arab Society of Certified Accountants (ASCA), The Arab Society for Intellectual Property (ASIP) and Abu-Ghazaleh Legal will be the core of this Advisory Board," he said.
The Advisory Board chaired by Talal Abu-Ghazaleh, and vice-chaired by Ulrich Moser includes: Danny Huntington, Heinz Goddar, Ingo Bruckner, Edward Gress, John Small, Hisham Kurdi and Mohammad Al-Dahleh.
Meanwhile, Abu-Ghazaleh emphasized on the role of Talal Abu-Ghazaleh College of Business (TAGCB) which is part of the German Jordanian University in developing IP standards.
"The draft of IP Valuation Standards which will be prepared by Vice-Chair Ulrich Moser will be ready once the Advisory Board meets in Berlin next July," he said.
Igno Bruckner, an expert in the field of intellectual property management and a member in LES - Germany said that it is an important and tremendous step.
"This project will contribute positively to the field of Intellectual Property in the Arab world but it is not going to be an easy task to accomplish," he told ag-IP-news Agency.
“It is true it will require a lot of effort, but it is feasible," he added. "If all members work consistently together, such project will be materialized in a year or two,” he pointed out.
Meanwhile, Prof. John Small, a member of TAGorg International Board of Advisors (TIBA) stressed that this project is a necessity.
"A project of such a magnitude requires a lot of work and coordination in addition to time," he said.
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