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Ability to benefit from the Madrid Protocol SL is threatened by local delays

The capacity of Sri Lanka to benefit from the Madrid Protocol is affected by delays in the registration of local brands, said Verite Research.

Despite the significant growth of applications registered over the past decade, the number of registered brands for a year has wedged brands, "Chief of Research Branch, Mel Nishan said yesterday.

"Sri Lanka companies are going through a lengthy and costly process to register their brands abroad as a solution, the government of Sri Lanka has decided to accede to the Madrid Protocol.It is a centralized global system that simplifies the process Process that cut through Sri Lanka companies to register trademarks abroad ".

"The brand at home is an important first step for a company seeking to register their brands abroad. Therefore, in order to obtain all the advantages of accession to the Madrid Protocol, Sri Lanka must first take Measures to remedy problems within the local brand registration system, "Mel said.

"Verite Research has revealed that Sri Lanka's National Intellectual Property Office (NIPO) takes about 3 to 5 years to process trademark applications. The growing gap between trademark applications and local Of the country benefiting from the Madrid Protocol, "he said.

"The record is in high demand and as the demand for the year 1995 was 2000, has now crossed the 6000 mark, increased three times," he said.

In addition, Sri Lanka fairs are poor compared to other middle-income countries such as the Philippines, Bulgaria and Vietnam. The number of local brands as a percentage of annual demands was over 50% in these countries before Their accession to the Madrid Protocol, while in Sri Lanka is as low as 14%, "he said.

"The requirement that the Madrid Protocol impose on Sri Lanka in exchange for their advantage is simple: in other words, to demonstrate their ability to process foreign trademark applications within a short and fixed one and a half years.

However, the benefits that Sri Lanka can obtain to the Madrid Protocol are seriously compromised by the slow process of registration of the mark in Colombo. "

In the 2016 budget, the government allocated 100 crore to accelerate accession to the Madrid Protocol. This was a positive response to a request made by long-standing exporters in Sri Lanka. It will help you and encourage exporters in Sri Lanka to invest in brand and trade marks in its market strategy and growth.

The Madrid Protocol is a centralized, global brands to register and maintain the system in foreign countries. It is administered by the World Intellectual Property Organization (WIPO).

There are two constituencies that benefit directly from Sri Lanka's accession to the Madrid Protocol.

The first are the international companies of the member countries of Madrid who are interested in providing Sri Lanka but have not registered their brand in Sri Lanka.

Adherence to the Madrid Protocol will allow Sri Lanka exporters to develop your product and brand with confidence, knowing that investing in consumer confidence is properly protected. This is the long term equally encouraged to develop and sell products under their own brands / brands in export markets, rather than being invisible to customers and remaining a third-party group / brand supplier

 
 

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