Due to global technological developments and trends, the Cayman Islands is pursuing a strategy to modernise its intellectual property protection regime by providing new protections for patents, trade marks and design rights. As a result, last year, the Patents and Trade Marks (Amendment) Bill, 2016, the Trade Marks Bill, 2016 and the Design Rights Registration Bill, 2016 were published.
Patent and Trade Marks (Amendment) Law, 2016
The current law (Patents and Trade Marks Law, 2011) enables proprietors of United Kingdom (“UK”) patents to automatically extend their registered patents into the Cayman Islands. The Patents and Trade Marks (Amendment) Law, 2016 (the “New Patents Law”), which is expected to come into force in the first half of 2017, will maintain the status quo as it relates to patents (i.e. the extension of patents registered in the UK into the Cayman Islands) whilst ‘stripping’ out the provisions of the current law that relate to trade marks to pave the way for a new trade marks law.
In addition, the New Patents Law includes a provision which will prevent the “assertion of patent infringement in bad faith”. These ‘anti-patent trolling’ provisions will mean that the Court will not recognise or enforce or give effect to an estoppel based on an assertion of patent infringement made in bad faith.
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An IP Revolution is coming to the Cayman Islands