Issue No. 595
Economy
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18 - 24 July 2002 Issue No. 595 Economy |
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| Published in Cairo by AL-AHRAM established in 1875 | Recommend this page | ||
A new law for the "New Economy"
The new intellectual property law, its benefits to business and ability to attract foreign investment were the themes of a recent seminar. Mona El Fiqi attended
A few weeks ago, the People's Assembly approved a new intellectual property code. "Law 82" will replace the 1939 law on trademarks, the 1949 law on patents and industrial designs and the 1954 law on copyright and their amendments, with one coherent piece of legislation.
The new IPR (Intellectual Property Rights) law is also expected to be more attractive for foreign companies intending to invest in the Egyptian economy.
During a one-day seminar entitled "Developing the market under the new IPR law" experts and officials asserted that the new law enabled great improvements in copyrights, trademarks and industrial design.
The seminar focused on the second part of the new law which is related to trademarks and industrial designs. It gives businesses and consumers complete protection from predatory practices and misinformation.
"Our goal must be to develop a business climate that is suitable for all participants in the market," Dr Hassan Khedr, minister of supply and internal trade, said.
Khedr also asserted the government's full commitment to apply the law strictly with the utmost transparency.
"A law may be perfectly worded but it can be of limited benefit if we do not assure a credible and transparent enforcement," Khedr added.
Explaining the positive impact of the new IPR on the business community, Khedr said that the law applies a trademark definition consistent with international intellectual property law; "these trademarks will make it easier to identify the source of goods and services, enabling businesses to develop a stronger reputation for quality," said Khedr.
According to Khedr, the law will make it easier for businesses to register a trademark, eliminating many impediments that used to be continual complaints.
Khedr added that the law also makes it possible to transfer an interest in a trademark without requiring the transferring of the business to which it pertains -- an international requirement that Khedr believes will benefit Egyptian businesses.
Given the new global economy, with its open borders and free trade, the time taken to register a trademark is crucial for an expanding business. Khedr says that a trademark is a major determinant of market share. During the past couple of years the time to register a trademark was cut in half and it is expected to be reduced even further.
Though the registration of trademarks is presently restricted to a central office in Cairo, there are plans to link this office electronically with two new sites in Alexandria and Upper Egypt.
According to the new law, Egypt will apply international standards to trademark registration and will reject applications that might be confusingly similar to another that has already been registered.
However, businessmen attending the seminar were worried about the fees they would pay when registering a trademark or an industrial design. Khedr's response was that fees would be fairly priced.
Moreover, the new law sets rules for new franchises using a trademark. The respective rights of both franchiser and franchisee are determined in six, clearly defined articles.
In the past, businessmen also complained that registered industrial designs were kept secret, making it near impossible to avoid infringement. In order to provide higher protection for intellectual property rights, the designs will henceforth be published in the Trademark and Industrial Designs Gazette and the files will be available for inspection.
During the seminar, the US Ambassador David Welch, said that intellectual property protection is not an abstract concept, rather, a real factor in encouraging domestic economic growth and developing exports.
Welch added that the new IPR law strengthens Egypt's investment climate since industries in the "new economy" rely upon information innovation and engineering to grow and succeed. "With vigorous implementation and enforcement the new IPR law can play a vital role in realising Egypt's efforts to be a regional centre," Welch added.
The law will also help to develop Egyptian trade relations with partners such as the US. According to Welch, the coming period is a window of opportunity for both sides. In addition to its efforts on customs, red-tape taxes and foreign exchange, Egypt could take specific steps to show its seriousness with respect to a free trade agreement. This would involve "bringing garment tariffs into line with World Trade Organisation (WTO) obligations, demonstrating leadership in refuting calls for a boycott of American products, which harm Egyptian businesses more than they harm the US, and resolving difficult commercial disputes," Welch said.
However, steps are being taken to promote Egypt-US trade relations. This is best exemplified by Ambassador Robert Zoellick's visit to Egypt last month aimed at developing momentum for a stronger bilateral trade relationship.
Welch also added that the newly renovated US-Egypt Presidential Council will discuss ways to improve trade and investment relations at a meeting later this month.
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