New Regulation On The Enforcement Of Attachment On Trade Names According To The Effective Uae Legislation

Abstract

The research provides a legal study of the newly introduced regulations governing executive attachment procedures on trade names under UAE law. It examines the concept of attachment, its conditions, and its effects on the sale and transfer of ownership, as well as the extent of the owner's authority to use, exploit, and dispose of the attached trade name. With the recent enactment of modern federal legislation, such as the Commercial Transactions Law No. 50 of 2022 and the Civil Procedures Law No. 42 of 2022, it has become essential to explore the latest developments regarding the executive attachment of trade names as a means of satisfying creditors' debts. The main issue lies in the intangible nature of the trade name, which differentiates it from the tangible elements of a commercial establishment. This distinction presents challenges in applying legal provisions to trade names as intangible assets inherently linked to commercial enterprises. One of the study's key recommendations is the issuance of an executive regulation for the proposed law, including a clear and explicit provision outlining the procedure for imposing an attachment on trade names.