January 29, 2010
Earlier this month, the Financial Services Commission ("FSC") of the British Virgin Islands ("BVI") announced its plan to revise its existing intellectual property laws. As noted in a recent Mondaq article (available HERE), the BVI has become increasing popular with global trade and investment, and in attempt to assist its more than 60,000 new companies per year facilitate business innovation, the FSC will establish a specific focus group to address the BVI’s current Intellectual and Industrial Property ("IIP") laws. According to the FSC’s January 5, 2010 press release (available HERE in .pdf format), the focus group will review "all current IIP Law and treaties, considering the operation of modern IIP laws in other jurisdictions and preparing new and or revised legislation for the consideration of the Commission," making specific reference to BVI’s Patents Act, registration of United Kingdom Trade Marks, the United Kingdom Designs (Protection) Act, and the Merchandise Marks Act. The focus group will likely be inaugurated next month and will have a goal of completing its review by the end of 2010.
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