Brazil may soon join Madrid Protocol

A major decision will soon be made in regards to Brazil’s adherence of the Madrid Protocol, which would have a massive impact on companies looking to do business in the country.

The Madrid Protocol is an agreement administered by the World Intellectual Property Organization (WIPO), which requests trademark registrations in all member countries. Essentially, registering a brand in one particular country will automatically register that same brand in all other countries involved with the Madrid Protocol. Without this system in place, individuals have no rights to their brand name in all foreign countries unless they specifically registered in each one individually.

The Protocol is valid in 88 countries, including the European Union. As it stands, Brazil is not a member country. However, last month the Foreign Trade Chamber of the Brazilian government recommended that Brazil join. A proposal was generated and is currently set to be reviewed by the Executive Office of the President.

Should this go into effect, new brands in the United States will have to register in Brazil. This could open up numerous opportunities for entrepreneurs who may have already considered potential expansion into the South American country. Of course, these things are never cut-and-dry, so business owners must ensure they are taking proper precautions as they increase their efforts in foreign countries. Working with lawyers in Brazil who have a full understanding of the Madrid Protocol and the way other business laws work in Brazil will help companies ensure they are following all rules and regulations pertaining to the registration of their brand in the country.