Bilateral trade agreement will protect trademark rights
Chile and the United States have signed an agreement that will enhance the enforcement of intellectual property (IP) rights. The agreement, which is the first comprehensive trade agreement between the United States and a South American country, will be submitted to the US and Chilean congresses for approval this year.
Some of the agreement's most important provisions are the following:
- Trademark, trade secret, copyright and patent owners shall be protected on a non-discriminatory basis;
- The parties shall implement measures to reduce IP-related crimes such as piracy and counterfeiting;
- When IP-related crimes are committed, both statutory and actual damages shall be awarded;
- Both governments shall become involved in resolving cybersquatting disputes; and
- Trademarks and geographical indicators shall be granted on a first-come, first-served basis.
Luis Felipe Claro Swinburn, Claro y Cia, Santiago
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