Cabinet finalizes creation of national intellectual property agency

Ukraine's Ministry for Economic Development, Trade and Agriculture says the Cabinet of Ministers in 2020 successfully completed the institutional component of reform related to the state system for legal protection of intellectual property, having created a national intellectual property agency.

The functions have been entrusted to State Enterprise Ukrainian Intellectual Property Institute (Ukrpatent), the ministry's press service said on its website on January 4.

Read alsoUkraine, Austria resolve double taxation issueThe national intellectual property agency is expected to provide services being a "unified office" for the issuance of copyright protection documents related to intellectual property, as well as perform a number of other functions.

"The establishment of a national intellectual property agency allows reducing the time for copyright protection documents to be issued, introducing effective mechanisms for the protection of intellectual property rights, which, in turn, creates conditions for the development of national innovation system and improvement of Ukraine's investment climate," the report said.

Background

In June 2020, the Verkhovna Rada, Ukraine's parliament, passed a bill that provides for the establishment of a national intellectual property agency.

In October, the Cabinet of Ministers designated the state-owned Ukrpatent to act as the national intellectual property agency.