Historically, Latin America has been considered a geographic area of relative importance in the industrial property field. With the exception of Argentina, Brazil and Mexico, the transnational corporations do not have much interest in obtaining patent protection for their inventions in some other Latin American countries. There are many reasons for this lack of interest, but the main reasons are the low economical development of these countries and the lack of an efficient patent system.
Regrettably, some countries of this geographic area are still not members of the main international treaties in the industrial property field, which have been widely used by transnational corporations for many years. Therefore, Latin American countries should consider in the following years their incorporation to these international treaties to offer these corporations a stronger patent system.
At the present time, the patent system mostly used by the large corporations is the PCT. This system offers users many advantages and the opportunity for the designated countries to be considered for the national phase of a PCT Application.
Other Latin American countries should consider the experience of Brazil, Cuba and Mexico, who are currently the only members of the PCT of Latin America. Since the adhesion of Brazil and Mexico to the PCT, the rate of patent applications filed has gradually shown an increase and these countries are frequently designated for the national phase of a PCT Application.
Therefore, the incorporation of the Latin American countries to the PCT might bring about many economical benefits and the opportunity of having access to new and better technologies; and will give the large corporations the opportunity of selling their products to a potential market that requires new technologies for a sustainable development.
The content of this article is intended only to provide general guidelines related to this particular matter. For your specific circumstances, full specialist advise is recommended