The Free Trade Agreement between Peru and the US came into force on December 4 2007.

Especially significant is an amendment proposal presented by Peru regarding Decision 486 of the Andean Community, which regulates topics related to intellectual property within the Community's member countries (Colombia, Ecuador, Peru and Bolivia).

The proposed amendments include:

• With respect to the term for claiming priority of patents and utility models, an unextendible term of 14 months is established, whereas the current provisions stipulate 12 months (Article 9).
• Article 19 sets forth that contracting states may determine that an invention shall be regarded as industrially applicable by possession of a specific, substantial and credible utility.
• Article 28 is amended as regards the power of Contracting States to determine that an invention is sufficiently supported by its disclosure when such disclosure reasonably indicates a person skilled in the corresponding art that the applicant was in possession of at the time of filing.
• The amendment to Article 50 A incorporates a new fact that indicates that member countries may compensate patent holders for unjustified delays in the proceedings of requests.
• It further establishes that a Contracting State may order that the owner of the patent may not exercise the right referred to in Article 52 (violation actions) when a third party uses the matter protected by an effective patent to generate information to support an application for approval to trade an agricultural chemical or pharmaceutical product. This is the aggregated Article 53A.
• Regarding the application for registration of a trade mark, Article 138 is amended to indicate that trade mark applications shall refer to one type of product or service only, unless contrary to the intention of the Contracting State.
• Paragraph d) of Article 155 is modified to include denominations of origin as symbols that may cause confusion in addition to trade marks.
• Article 156 is amended to include paragraph d), which refers to the use of a mark for commercial purposes, such as submitting the products to transit at the border for export purposes.
• The provisions of Article 162 are amended to indicate that licenses are not required to be registered; each Contracting State must act at their discretion in this matter.
• Article 202 is amended to include paragraph e), which specifies that an impediment to the registration of a denomination of origin is the similarity to a mark previously requested in good faith for the same products, which may cause confusion.
• Trade mark owners, importers, exporters, consignors, consignees, senders or transporters of the goods are included as persons authorised to take part in the corresponding diligences, according to the amended Article 251.
• Article 252 is amended to include the importers or exporters, owners, consignors, consignees, senders or transporters of products as the individuals to be notified if the Customs operation is suspended.

Whether or not it is approved, this proposal shows Peru's interest in expediting the operation of intellectual property regulations in the region. Upon a subsequent acceleration of trade, this attitude will positively impact the implementation of the FTA with the US.