This is an article repost.
The Joint Foreign Chambers (JFC) of the Philippines is urging the government to accede to the Madrid Protocol at the soonest possible time, saying this will help entice more foreign brands to come to the country.
In a statement, the group said that accession to the agreement was also important to its members as it would make their trademark registration easier, less time-consuming and virtually hassle-free.
Renewals and changes in ownership of trademarks could also be accomplished via a single channel.
“For JFC members, managing their trademark portfolio worldwide will become faster, easier and less expensive. This means greater economic benefit for JFC members,” the statement read.
Should the Philippines become a signatory to the Madrid Protocol, trademarks registered in the country via the Intellectual Property Office of the Philippines (IPOPHL) would automatically be registered in the 85 member-countries.
The Madrid Protocol’s signatories include the United States and Japan, the country’s two largest trading partners, as well as Australia, Korea, Singapore and the European Union.
For foreign brands, the JFC said that a country’s being a signatory to the Madrid Protocol was an incentive in itself, as this would provide them with an efficient and transparent way to register their trademarks.
“We, therefore, urge the Philippine government to accede to the Madrid Protocol at the soonest time possible. We likewise enjoin the (IPOPHL) to immediately implement the Madrid Protocol once the accession process is completed by the Philippine Government in 2011,” the group said.
“This will ensure that the country maintains a competitive advantage, especially with the agreement among Asean member-states under the Asean Economic Community Blueprint to accede to the Protocol by 2015. The Philippine government cannot afford to wait for 2015, especially since all its major trading partners are already members of the Madrid Protocol,” it added.
The group further said that accession to the Madrid Protocol was an important step for the country to make toward regional—and, ultimately, global—integration.
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By: Abigail L. Ho
Source: Philippine Daily Inquirer, click here.
Related Topics:
JFC supports the Philippines’ accession to the Madrid Protocol
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