New legislation improving the protection of intellectual property (IP) in Panama is set to reduce the transhipment of pirated goods through the country, according to a report published this week by IP expert, Alvaro Aguilar.
Examining the evolution of the legislative changes, Mr Aguilar revealed that:
"What started as a bill to penalize (the) use of grey market goods evolved after a Presidential veto and several amendments into a law that improves protection for registered titleholders and clarifies certain terms in existing legislation."
Changes to the jurisdiction's Criminal and Judicial Codes and its Industrial Property and Copyright laws include the expansion of Article 382 of the Criminal Code to criminalize the unauthorized manufacturing of products protected by an invention patent, the imposition of a penalty of 1-2 years of imprisonment for those who manufacture, market, or circulate an infringing product, and the criminalization of laundering the proceeds of IP infringement activities.
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