Venezuela:
Patent And Trademark Fees In Venezuela
18 March 2019
BakerHostetler
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On Feb. 1, 2019, the Venezuelan Ministry of National Commerce
sent a notification that patent and trademark fees shall be paid in
the Venezuelan cryptocurrency "PETRO." HOWEVER, the
United States government, by Executive Order 13827 (March 19,
2018), expressly prohibits such transactions by
U.S. persons, including individuals and companies, relating to any
digital currency, digital coin or digital token issued by, for or
on behalf of the government of Venezuela on or after Jan. 9, 2018.
Accordingly, at this time we cannot pay for renewal or registration
of your trademarks or patents in Venezuela. We do not know if or
when this may be resolved. If you have something coming up for
renewal in Venezuela, it may not be possible to pay the fees. Stay
tuned.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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