Roundtable Report: INTA Members Present Latin America Economic Impact Study in Venezuela

Published: July 15, 2018

A roundtable focused on INTA’s 2016 impact study, Trademarks in Latin America: A study of their economic impact in five countries in the region (Chile, Colombia, Mexico, Panama, and Peru), took place in Caracas, Venezuela, on Thursday May 3.

Co-hosted by INTA, the Inter-American Intellectual Property Association (ASIPI), and the Venezuelan Association of Industrial Property Agents (COVAPI), the event attracted more than 75 attendees from the Venezuelan IP community, representatives from the Venezuelan Congress, and the press.

The roundtable was a prime opportunity to introduce the results of the impact study, which demonstrated the positive impact of trademark-intensive industries on the economies of Chile, Colombia, Mexico, Panama, and Peru. The study included findings that the contribution of IP-intensive industries to total employment in these regions is about 8 to 26 percent and 10 to 21 percent of GDP. Such data is particularly important for an economy like Venezuela’s, which is experiencing economic and political challenges.

Luis Alejandro Henriquez (Marquez, Henriquez, Ortin & Valedon, Venezuela), Secretary of ASIPI and member of the team that developed the impact study, was the main presenter. He shared the highlights of the study with the audience and stressed the importance of adequate protection of IP rights so that the country and brand owners can benefit from their contribution to the economy.

Castor Gonzalez-Escobar (GR LEX Americas, Venezuela) talked about the present and future of IP rights protection in Venezuela, discussing the challenges for promoting a culture of innovation and creativity as a tool to promote growth and wealth, as well as human and economic development.

Matias Perez-IrazÁbal (Hoet, Pelaez, Castillo & Duque, Venezuela) and President of COVAPI, gave a detailed presentation about the actions and challenges faced by COVAPI in defending IP rights.

The meeting was also an excellent opportunity for the IP community to receive an update from Mario Massone, Legal Advisor of the Science, Technology and Innovation Commission of the National Assembly (Venezuela’s Congress) and Coordinator of the technical committee for the reform of the Industrial Property Law, regarding the advances and challenges for passing such reform.

The event was co-organized by Jacqueline Moreau Aymard (Moreau Gonzalez & Asociados, Venezuela), National Delegate to ASIPI, who also moderated the roundtable; Mr. Perez-IrazÁbal; Mr. Henriquez; and Mr. GonzÁlez-Escobar.

A Spanish version of the Latin America impact study was published on December 15, 2016, and is available here.

Although every effort has been made to verify the accuracy of items in the INTA Bulletin, readers are urged to check independently on matters of specific concern or interest. Law & Practice updates are published without comment from INTA except where it has taken an official position.

© 2018 International Trademark Association