RESOLUTION NO. 43(5/5)
CONCERNING INCORPOREAL RIGHTS

Compiled By:
Prof. Dr. Mohd. Ma’sum Billah
masum2001@yahoo.com
masum@applied-islamicfinance.com
+6019-3699542  

Quote -The Council of the Islamic Fiqh Academy, holding its Fifth Session, in Kuwait City (State of Kuwait), from 1 st to 6 th Jummada al-Oula 1409 H (10 to 15 December 1988);

Having reviewed the papers presented by the Members and experts concerning “Incorporeal rights?and after havng listened to the discussions on the subject;

RESOLVES

First:  Business name, corporate name, trade mark, literary production, invention or discovery, are rights belonging to their holders and have, in contemporary times, financial value which can be traded.  These rights are recognized by Shari’a and should not be infringed.

Second: It is permitted to sell a business name, corporate name, trade mark for a price in the absence of any fraud, swindling or forgery since it has become a financial right.

Third:  Copyrights and patent rights are protected by Shari’a.  Their holders are entitled to freely dispose of them.  These rights should not be violated.

Verily, Allah is All-Knowing - Unquote

(Source: "Resolution and Recommendations of the Council of the Islamic Fiqh Academy (1985-2000)” , IRTI.)