Cambodia Recognizes First Patent Application
By Dezan Shira & Associates, Singapore Office
Cambodia has recognized its first-ever patent application, marking a landmark for legal services provision in the country. The country has had a patent law in place since 2003, enacted as part of the countries WTO obligations, however it has struggled with the internal mechanisms required to enable it to actively process such applications.
However, in light of the forthcoming ASEAN Economic Community deadline of the end of this year for Cambodian compliance, the nation negotiated an agreement with Singapore’s Intellectual Property Office (IPOS) for assistance in processing such applications. Consequently, the first patent was granted protection and recognized in Phnom Penh on March 4th.
In a statement last week, IPOS said the co-operation between Singapore and Cambodia will enable prospective companies to access the regional common market more effectively, and stated that businesses or inventors seeking patent protection in Cambodia may now do so through its office.
civil infringement law suit against offenders. Cambodian courts have discretion to award monetary damages and order injunctive relief, as well as issuing criminal penalties for infringement of five million to twenty million Riels (approximately US$1,250 to US$5,000), or one to five years imprisonment, or both. Repeat offenders are subject to up to double the fine and imprisonment term.
Asia Briefing Ltd. is a subsidiary of Dezan Shira & Associates. Dezan Shira is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in China, Hong Kong, India, Vietnam, Singapore and the rest of ASEAN. For further information, please email asean@dezshira.com or visit www.dezshira.com. Stay up to date with the latest business and investment trends in Asia by subscribing to our complimentary update service featuring news, commentary and regulatory insight. |
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