Venezuela Roundtable: Study on the Economic Impact of Trademarks in Latin America

A round table introducing the Study on the Economic Impact of Trademarks in Latin America, took place in Caracas, last Thursday May 3rd, 2018.

Co-hosted by the International Trademark Association (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 IP Venezuelan community, representatives from the Venezuelan Congress and the press.

The event was a perfect opportunity to introduce, in a troubled economy like the Venezuelan, the results of the study promoted by ASIPI and INTA, showing the positive impact of the trademark-intensive industries on the economies of Chile, Colombia, Mexico, Panama and Peru, with findings like the contribution of these industries to the total employment in about 8 to 26 percent and 10 to 21 percent of GDP.

Luis Alejandro Henriquez, from Marquez, Henriquez, Ortin & Valedon, Secretary of ASIPI and member of the team that developed the Study, was in charge of the main presentation. He showed the audience the highlights of this Study and stressed the importance of an adequate protection of IPRs, so that the country and the holders of brands can benefit from their contribution to the economy.

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

Matias Perez-Irazábal, from Hoet, Pelaez, Castillo & Duque and President of COVAPI, made a detailed presentation about the actions and challenges faced by COVAPI in defense of the Intellectual Property rights.

The meeting was also an excellent opportunity for the IP community to receive an up-date from Mario Massone, Legal Advisor of the Science, Technology and Innovation Commission of the National Assembly (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, Partner at Moreau Gonzalez & Asociados (MGA), National Delegate to ASIPI, who also acted as moderator of the roundtable; Matias Perez-Irazábal, Partner at Hoet, Pelaez, Castillo & Duque and President of COVAPI; Luis Alejandro Henriquez, Partner at Marquez, Henriquez, Ortin & Valedon and Secretary of ASIPI; and Castor González-Escobar, Partner at GR LEX Americas.

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