Magical Realism: Crypto-Coins, Country Brands and More

Kat friend Fredy Sánchez Merino has made available another report in his series on IP developments in Latin America. Venezuela– The Venezuela IP Office (SAPI) has informed through an official resolution (here) about a new mechanism for the payment of official fees through the usage of PETRO (oficial Venezuelan crypto-currency). The measure, only applicable for foreign applicants, includes a 60-day deadline, with retroactive effect, for the payment of the official fees corresponding to the trademarks published in the last two Official Trademark Gazettes. It is noted that PETRO transactions are economically prohibited by some countries (e.g. USA), which would prevent some foreign entities from protecting their IP in Venezuela. As well, the legitimacy of the Resolution is being questioned, as the country is going through a difficult political situation, which could see the reversal of measures taken by the current government. Argentina– Buenos Aires Criminal…

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