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NEWS AND BULLETINS

Compulsory Registration ff Intellectual Property Contracts

Intellectual Property Rights (IPRs) are intangible assets that may be subject of assignment contracts, authorization of use or license contracts, among others. Since the enforcement of the Organic Economy of Knowledge, Creativity and Innovation Code (COESCCI), the registration of this type of contracts is mandatory for them to take effect.

Accordingly:

  • The registration of the contract before the National Authority of IPRs, currently SENADI[1] becomes a solemnity for its enforcement and a requirement for its validity;
  • The contract must be in writing to proceed with the registration;
  • Ownership of IPRs is not transferred until the contract is registered;
  • The legal effects of these contracts begin with the registration. Therefore, lack of this formality will result in consequences for the parties, such as the following:
  • The Licensee will not be able to prove the authorization of use provided by the owner of the IPRs (Licenser) and, therefore, could not enforce its rights.
  • Within non-use cancellation actions against trademarks, the license agreement could not be used as evidence of use;
  • It would not be possible to make tax deductions for the payment of royalties for the use of IPRs before the tax authority.

Consequently, the compliance with the registration of this type of contracts makes the contract enforceable for both parties in terms of their obligations and rights, as well as for third parties in terms of its effects.

[1] National Service of Intellectual Rights.


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