The European Commission distributed today its biennial Report on the Security and Requirement of Protected innovation Privileges (IPR) in third nations.

The Third Country Report names so-called “priority countries” whose protection and enforcement of intellectual property rights are seriously lacking.

With the intention of enhancing IPR protection and enforcement worldwide, the Commission will concentrate its efforts and resources on the specific areas of concern in these countries based on these findings. China remains the EU’s top priority, as this most recent report demonstrates, while India and Turkey remain priority two. Priority three countries continue to be Argentina, Brazil, Ecuador, Indonesia, Malaysia, Nigeria, Saudi Arabia, and Thailand.

Valdis Dombrovskis, Commissioner for Trade and Executive Vice President, stated: A vigorous licensed innovation framework upholds development and is a critical driver of the EU’s intensity and the security of our essential advantages. Businesses in Europe suffer when international intellectual property systems fail. Our economy suffers as a result of counterfeiting and piracy, and our citizens may be exposed to unsafe goods. Our economic growth is slowed and forced technology transfer may pose a threat to our safety. As a result, the Commission is expanding its efforts to safeguard EU consumers, promote the EU’s contribution to innovation, and safeguard European businesses when conducting business outside the EU.

The report will likewise empower privileges holders, specifically little and medium-sized organizations, to acquire attention to expected dangers to their IP while participating in business exercises in the need nations. Additionally, it is a useful resource for authorities in third nations.

The European Commission’s efforts to strengthen IPR protection and enforcement in third countries are reflected in the Third Country Report. It depends on a designated discussion, as well as on different sources recorded in the report.

Illegal exchange fakes stays a serious gamble to current, open and globalized economies. In 2019, counterfeit and pirated goods accounted for up to €119 billion, or 5.8% of EU imports, according to a joint study on Global Trade in Fakes (June 2021) conducted by the European Union Intellectual Office (EUIPO) and the Organization for Economic Co-operation and Development (OECD).

In addition to these difficulties, the report highlights problems related to: forced transfer of technology; low degrees of assurance of proprietary advantages; registration delays for trademarks and patents; restrictive criteria for patentability; concerns about data from regulations; inadequate management of collective rights; also, lacks in the assurance of plant assortments and topographical signs.

Source – Policytrade