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The Key To Protecting Your IP In Latin America

Author:Mr Cody Mcfarlane
Profession:Harris Gomez Group

Owners of intellectual property (IP) have many ways to protect their valuable assets. Perhaps, the most obvious way is to register intellectual property in the relevant jurisdictions and then enforce those IP right against third party infringers.

When it comes to doing business in which your IP is involved, specially in Latin American countries, two key points should be taken into account: (1) that your IP rights be registered before the relevant governing body, and (2) contracts should be drafted in writing and IP should be covered in such agreements.

In regards to the first point, it is very important to protect your IP by means of registration, since, unlike what happens with copyright in which it is enough with the creation of the work to be considered the author. In the case of industrial property, the right is acquired through registration. If there is no registration, it will be very difficult to defend the rights of unauthorized use by third parties. Furthermore, hardly anyone will be interested in acquiring rights of which there is no existence or ownership. When the technology is not protected, it is considered as public domain because there is no legal requirement that requires the consent of anyone to use it.

The second key point mentioned in developing and protecting the intellectual property of your company is contracts. Contracts and intellectual property go hand in hand. No contract signed by your company is unimportant and all details must be reviewed to ensure that they enhance and do not harm your intellectual property assets. In fact, it is through contracts that intellectual property rights can be sold, licensed or even transferred. A bad contract can lead to litigation, unnecessary expense, and a loss of valuable time.

Typically, IP appears in the following types of agreements: 1) Non-Disclosure Agreements and Confidentiality Agreements 2) Memorandum of Understanding 3) Agency Contracts 4) Work Contracts 5) Sale / assignment of your IP 6) Trademark/Patent and Technology Transfer License 7) Joint venture agreements 8) Manufacturing agreements...

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