The President of the Russian Federation Vladimir Putin has signed the Federal law “On ratification of the Geneva Act of the Hague Agreement Concerning the International Deposit of Industrial Designs” passed earlier by the State Duma and approved by the Federation Council.
The Act allows to simplify the procedure for obtaining the simultaneous design protection in several countries and provides an opportunity to the owners of the samples residing in one of the Contracting countries, to obtain protection in other countries with the implementation of minimum procedures and costs.
At present Contracting parties to the instrument are more than 50 countries and international organizations, including the EU, the African Intellectual Property Organization, United States, Japan, South Korea, Ukraine, Turkey etc.
The benefits to countries that joined the Act are the promotion of trade, economic and financial benefits, savings on administrative costs.
Economic and financial benefits are that part of the amount of fees payable by applicants is annually distributed among the countries participating in the Act by the International Bureau of the World Intellectual Property Organization (WIPO).
The agencies of the participating countries do not conduct a formal examination of the application filed in accordance with the Act, performed by the International Bureau of WIPO.