The law was introduced in 2000.
The INAPI, which is expected to commence operation later this year, succeeds the country’s Industrial Property Department. It will have greater responsibilities and powers, including advising the president on industrial property matters and proposing the accession of Chile to international industrial property treaties and conventions.
Rodrigo Velasco of Alessandri & Compania in Santiago said in a statement sent to Managing IP: “Though the approval of this new law was long overdue, it shows the importance that Chile attaches to intellectual property matters nowadays, in the context of the global economy and considering the numerous free trade agreements that Chile has subscribed to in recent years, including with the US, Canada, China, Japan and the European Community.”
He added: “It is hoped that the creation of this new institution will bring benefits to applicants and owners of IP rights, and that the Institute will be able to offer new services, have better specialized officers and reduce the processing time of applications.”
