post Friday July 19, 2013
In an effort to continue the support of intellectual property and provide clear rulings on matters involving IP, Russia has opened the doors to a new area of its judicial system. This last July 2nd, the the Plenum of the Supreme Commercial Court of the Russian Federation granted their seal of approval for the commencement of the recently created IP Court.
The new IP court is only a portion of the greater system of the court titled “arbitrazh,” which means roughly commercial courts. The commercial courts will complete a variety of functions, including the following:
The creation and opening of the court that is located in the center of Moscow, clearly demonstrates the commitment the Russian government has to encouraging the development and generation of IP in their country. It also sends a strong signal to the rest of the world that Russia will be taking IP protection seriously in the hopes of stimulating their local economy and potentially increasing the inflow and outflow of trade and of business investment in the country. Over the recent years Russia had accomplished a great deal of progress in creating laws that agree and coincide with other major countries current IP laws and systems.
There will be short term and long term benefits that Russia will reap from the new IP court, but one of them specifically is the protection of a great deal of IP that will likely be created as a result of the 2014 Winter Olympics that Russia will host in February. This court will surely prove beneficial as innovation will take place surrounding the 22nd Winter Olympics.
Source: National Law Review
Image source: FreeDigitalPhotos.net
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