The National Bank of Ukraine has changed currency restrictions imposed during the state of martial law. Ukrainian companies may now pay foreign currency fees for services provided by IP offices of other countries. This simplifies the procedure for international trademark registration for entrepreneurs planning to enter new markets.
"Most of our clients are entering new markets. In order to register a trademark in several countries at once, we often choose the procedure for international trademark registration under the Madrid system. It allows you to file one application and declare several countries out of 131 possible. This is much more convenient than registering separately. The international procedure allows you to pay fees in one currency, make changes simultaneously for all declared countries," explains Ekaterina Drobysheva, Head of Brand, Design and Copyright Management Practices at IPSTYLE.
The relaxation of the currency restrictions are aimed at supporting Ukrainian businesses. The act have already entered into force.
Expanding into global markets gives a business an access to new customers and markets. IPSTYLE lawyers will process the registration of your trademark in the countries that you need and will consult on international TM registration at your request.