In the light of signing of the Trade Promotion Agreement (sometimes referred to as the Free Trade Agreement) between U.S. and Panama on 28 June 2012, and effective as of 31 October 2012, the patent and trademark laws have been amended to comply with this Agreement.
The important changes brought forth under Patent law are as follows:
- Simply sign power of attorney without requirement of notarization or and legalisation;
- Copy of Commercial Register of Extract from the Commercial Register is no longer required;
- The availability of protection for non-pharmaceutical patents in case of delays in the Patent Office;
- National phase application under the PCT is now possible;
- A compulsory license system must be granted, and
- Slight increase in official fees.
The main aspects of the amendments to Trademark law are as follows:
- Simply sign power of attorney with requirement of notarization or legalisation;
- Copy of Commercial Register of Extract from the Commercial Register is no longer required;
- Multi-class applications are now acceptable;
- For infringement cases, the use of the trademark in Panama will be considered in opposition and cancellation actions, however, absolute use will not be accepted any more in cases of conflict over trademarks;
- Registration of licenses is now optional and no longer obligatory, and
- Slight increase in official fees.
The implementation of these regulations is expected to issue soon.
For more information, please contact info@qumsieh.com.
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